November 9, 2007
New Loan Regulations Seek to Curb Abuses
The Education Department last week issued long-awaited regulations governing student loans, including relationships between colleges and lenders.
The regulations, which take effect in July, come at the end of a year marked by Attorney General Andrew M. Cuomo of New York's investigations into the nation's $85-billion student-loan industry.
Among the changes contained in the regulations, lenders handling federally guaranteed loans are restricted from offering colleges gifts in
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