October 13, 2006

With One Federal Probe of Student Loans Completed, Another Is on Tap

By JEFFREY SELINGO

Until February, when Congress permanently closed a loophole in federal student-aid law, some of the nation's largest lenders reaped windfall profits from the government by receiving guaranteed subsidies far above market-based interest rates.

Now the Education Department's Office of Inspector General is trying to get some of that money back.

The inspector general released an audit of a major for-profit student-loan provider, the National Education Loan Network, late last month

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