May 26, 2000

Federal Trade Commission Exempts Colleges From New Privacy Rules on Borrowers

By STEPHEN BURD

Colleges are exempt from new federal privacy rules that would have forced many institutions to annually report their policies on the confidentiality of students' financial records to students and federal regulators, the Federal Trade Commission announced this month. The commission said students' privacy was sufficiently protected under current federal law.

The final rules, which will take effect in July 2001, carry out changes that Congress made last year to a

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