May 25, 2001
New Law Will Allow Student-Loan Process to Be Totally Online
Starting this summer, students will be able to conduct all of their federal student-loan transactions online. Most college officials are praising the move as a way to expedite the delivery of financial aid, but some consumer advocates fear that it may leave students vulnerable to fraud.
As of July 1, students applying for loans for the 2001-2 academic year will be able to use personal-identification numbers distributed by the U.S. Education Department, or other types of electronic
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