May 19, 2008
Education Dept. Faces Industry Dissent Over 2 Student-Loan Rescue Plans
Washington
Two sets of Education Department negotiations to avert a crisis in the federal student-loan program are drawing protests from industry leaders, who say students could end up being harmed by the administration's proposed terms.
The department is under pressure to have the two plans ready by June 1, the traditional start of the lending season, when students will begin applying for loans for the 2008-9 academic year. One plan, authorized this month by Congress, would let lenders
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