November 21, 2008
Student Lenders Get More Federal Aid, but College Groups Oppose Major New Expansion
Washington
The Bush administration announced on Thursday a new rescue provision for student-loan companies offering federally subsidized loans, opening yet another spigot of federal money that seeks to ensure they can meet existing commitments to students for the spring semester.
At the same time, the administration came under new pressure from public colleges and student advocacy groups to restrain itself from beginning a parallel effort to rescue providers of higher-cost nonsubsidized
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