October 10, 2008
Direct Lending Gains Participants
Student borrowing through the Education Department's direct-lending program has grown this year by nearly 50 percent, at the same time the bank-based alternative has grown reliant on a federal rescue plan and has become increasingly difficult for government watchdogs to monitor.
The department, in a series of new statistical reports released last month, showed that:
- Nearly 400 new colleges joined the department's direct-lending program this year, bringing total student
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