November 10, 2008
Education Department Expands Help Available to Student-Loan Companies
Washington
The Bush administration has agreed to extend backward by five years a financial-bailout authority that lets student-loan companies sell their portfolios to the federal government.
The administration, as part of the expansion, also has agreed to extend the eligibility for government purchase to loans that have already been sold to an outside investor.
The extensions of the nearly six-month-old financial rescue plan reflect the Education Department’s growing
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