April 10, 2009

House Votes to Delay Auction of Loans and Help Borrowers

By KELLY FIELD

Responding to pleas from student-aid officers and lenders, the U.S. House of Representatives voted late last month 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

Digital or Print Subscription

Web Pass

Already have an account? Log In Now.