March 24, 2006
Education Secretary Takes Action to Keep Direct Loans Competitive
The U.S. Education Department has quietly announced that it will continue to provide borrowers in the federal direct-lending program with financial incentives to repay their student loans on time.
The department made the announcement this month in a letter to colleges and lenders that it posted on its Web site on a Friday evening. The letter detailed how the department would enact changes Congress made in the federal student-loan programs as part of the $39-billion deficit-reduction
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