March 14, 2008
No Pre-Emption of States on Loan Policy
The Education Department told lenders last week that it would not, for now, support regulatory language that pre-empts state laws governing student-loan policy.
Many in the loan industry sought such language as the department and others drafted regulations for carrying out the mammoth student-aid bill passed by Congress last September. The industry feared the precedent set by New York State's attorney general, Andrew M. Cuomo.
Citing potential harm to New York residents, Mr.
This content is only for subscribers. You can gain access by purchasing a:
Print Subscription
Digital Subscription
Already have an account? Log In Now.
-
The Chronicle Review
-
Government
-
Advice
