March 31, 2009
House Moves to Postpone PLUS Loan Auction, Help Borrowers Escape Default
Washington
Responding to pleas from student-aid officers and lenders, the U.S. House of Representatives voted Monday to postpone a series of auctions for PLUS Loans for parents and to allow guarantors to sell rehabilitated loans to the Education Department, helping thousands of borrowers escape default.
The changes, which are included in a “technical corrections” measure that fixes minor errors in last year’s bill to reauthorize the Higher Education Act, now head to the U.S.
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