November 28, 2003

Education Department Does Not Plan to Investigate Lenders Over Inducements

By STEPHEN BURD

Bush-administration officials have no immediate plans to investigate whether some lenders have illegally offered inducements to colleges to steer prospective borrowers their way.

In a letter last month to Sen. John Edwards, a North Carolina Democrat, a high-ranking U.S. Education Department official said she preferred that lenders regulate themselves.

"Rather than intervene at this time, we believe that it is preferable to wait to see whether these groups can reach consensus,"

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