May 21, 2008
Administration to Announce a Rescue Plan That Lenders May Find Acceptable
Washington
The Bush administration agreed on Tuesday to offer student-loan companies a financial rescue plan that would offer them both low-interest lines of credit and the ability to sell their loans to the government at a rate exceeding their face value, raising hopes that key lenders, including Sallie Mae, will remain involved in federally subsidized lending, industry analysts said.
Administration officials settled on the outlines of their plan after several days of talks with lenders
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