April 7, 2008
Spellings Plans Strategy Session on Lender-of-Last-Resort Provisions
Washington
Education Secretary Margaret Spellings plans to gather lending-agency representatives together this week to prepare emergency measures in the event that too many private lenders quit the government-backed student-loan system.
The meeting, scheduled for Friday, is the department's latest effort to reassure Congress and colleges of its attention to the potential crisis in student lending. As more student-loan companies have announced their withdrawal from the government system,
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