March 17, 2008
Spellings Seeks to Reassure Skeptical Congress That the Education Department Is Ready for Loan Crisis
Washington
Relax. Don't panic. Everything is under control. That was the message Education Secretary Margaret Spellings delivered Friday as she sought to persuade skeptical members of Congress that her department is ready to handle a potential crisis in the federal student-loan program.
In testimony before the U.S. House of Representatives education committee, Ms. Spellings said that her agency was monitoring lender departures from the student-loan program and working with colleges and
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