September 19, 2008

Nonprofit Lender Asks Congress for More Help to Stay Afloat

By Kelly Field

Washington

With the credit crunch showing no signs of subsiding, nonprofit lenders are asking Congress to take additional measures to keep them afloat.

At a hearing of the House Financial Services Committee on the auction-rate securities market on Thursday, the president of Pennsylvania's nonprofit lender urged lawmakers to give the U.S. secretary of the treasury the authority to purchase securities backed by student loans.

"Please give us the chance to solve this issue

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