Washington
A year after Congress abolished bank-based lending in the federal student-aid programs, Education Department officials are celebrating the generally smooth transition to 100-percent direct lending.
On Tuesday, Secretary of Education Arne Duncan stopped by the department’s Office of Federal Student Aid to thank employees for their hard work during the switch; on Wednesday, the department’s chief operating officer, William J. Taggart, will send a letter to colleges thanking them for theirs.
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