March 30, 2007

Colleges Say Bush Proposal Threatens Federal Perkins Loans

By LAUREN SMITH

As part of the Bush administration's attack on the Perkins Loan program, the Department of Education has proposed regulations that college financial-aid administrators say could slowly strangle the program.

At issue are two proposed changes in federal policy: One would cap the fees colleges can collect on students' unpaid Perkins Loans. The other would give the education secretary the authority, in certain circumstances, to strip colleges of the right to collect unpaid Perkins Loans,

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