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Congress Acts to Safeguard Student Loans

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Congress has approved through the 2010 academic year a program that will allow college students who rely on loans to continue their educations regardless of current difficulties in the private credit market.

The Senate passed the legislation on a voice vote Sept. 17. The bill authorizes the U.S. secretary of education to buy loans from lenders …

Did Congress tame the ‘Wild West’?

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Opinions on the impact of New York Attorney General Andrew Cuomo’s investigation into the student loan industry (which reared its head again Tuesday — see related article) vary widely. Supporters champion it as having shined a light on sleazy practices in which some lenders and colleges engaged, and as ultimately helping …