July 9, 2004
Calif. Colleges to Stay With Direct Lending
Gov. Arnold Schwarzenegger of California has said that the state has no plans to try to entice its public colleges to leave the federal direct-student-loan program at this time.
In fact, in a letter to U.S. Rep. George Miller of California, the top Democrat on the House education committee, the Republican governor wrote that he believed that requiring colleges to leave direct lending in order to continue receiving state funds would be "prohibited by federal law."
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