April 4, 2008
Credit Unions Will Lobby Congress for Loan-Subsidy Benefit Accorded to Nonprofit Lenders
As more and more private lenders stop offering government-backed student loans, credit unions—a previously quiet segment of the banking industry—are stepping forward to help out. In return, they'd like some help from Congress.
Although credit unions are nonprofit banks, the institutions were forgotten last September when Congress cut the subsidies on federally guaranteed students loans and established one rate for for-profit lenders and a more favorable rate for
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