May 7, 1999
Education Dept. Compromises With Guarantee Agencies on Default Policy
The U.S. Education Department has settled a dispute with student-loan-guarantee agencies over whether they would be compensated by the government when using a key tool to prevent borrowers from defaulting on their student loans.
Under a compromise agreement, the department will allow the 36 guarantee agencies to collect a new "default aversion" fee from the government when they place delinquent borrowers into
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