May 30, 2008
Bush Administration Announces a Student-Loan Rescue That Lenders Find Acceptable
The Bush administration last week publicly outlined its plans for rescuing student-loan companies from the nation's economic turmoil and promptly won commitments from major lenders to remain participants in the federal student-loan system.
"We have reached the conclusion that we will stay in the program," Albert L. Lord, chief executive of Sallie Mae, the nation's largest student-loan company, said in a briefing with college representatives only hours after Education Secretary Margaret
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