July 14, 2006
Colleges Find a Way to Keep Profiting From Loans
Loophole preserves 'school as lender' plan despite concern in Congress
Supporters of a program that allows colleges to turn a profit from the federal guaranteed-student-loan program may be heading for a showdown with Congress.
In February federal lawmakers tried to thrust a stake through the heart of the "school as lender" program, in which colleges lend money directly to their graduate and professional students and then sell the loans to commercial lenders for a hefty
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