December 21, 2001
Court Rules for U.S. in Lending Dispute
A federal appeals court handed a victory to the U.S. Education Department this month in its long-standing dispute with a former student-loan-guarantee agency over the department's authority to shut down guarantors.
In 1994, the Student Loan Fund of Idaho, a nonprofit company that served as the guarantor for the state, decided to stop backing student loans. As a result, the Education Department ordered the guarantor to transfer its entire loan portfolio to the Northwest Education Loan
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