January 5, 2007
Education Dept. May Ban Exclusive Deals Between Colleges and Lenders
Concerned about the deals that some lenders have struck with financial-aid administrators to win student-loan business, U.S. Education Department officials may bar colleges from recommending fewer than three lenders to students who must borrow to pay for college.
Department officials also may rewrite regulations that forbid student-loan providers from offering certain inducements to colleges to secure applicants for federal loans. The current rules are vague, and the agency would like
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