Hillary Clinton Lays Out New Plan For Tackling 'Student Loan Crisis' (The Chronicle of Higher Education)
"Sen. Hillary Rodham Clinton today unveiled a sweeping plan to ensure that students are not left without money for college as a result of the withdrawal of dozens of lenders from the guaranteed-student-loan program," The Chronicle of Higher Education reports. "The release said Mrs. Clinton is urging the Bush administration to act quickly and support her plan, which includes: Creating a way for colleges to quickly transfer from the guaranteed-student-loan program to the direct-loan program... Giving breaks to parents who now run the risk of being denied access to federally guaranteed low-interest loans for their children as a result of defaulting on a mortgage or being 90 days late in repaying such debts... Authorizing the Education Department to advance money to state or private entities that ensure student loans and to purchase federally guaranteed loans from lenders who are no longer able to handle them."
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