April 11, 2008

Education Dept. Issues Guidelines for Lenders of Last Resort

By PAUL BASKEN

The Education Department has issued guidelines for establishing "lender of last resort" programs that would make sure students could find loans if the government declared a loan emergency.

Five pages of guidelines were sent to 35 guarantee agencies last month.

If a lender-of-last-resort emergency is declared, the guarantee agencies would be assigned to help students find private lenders, or even to issue loans themselves.

While taking this step, the department continues

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