Student Loan Business Was a Ticking Bomb
April 10, 2007
02:55 PM ET |
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The $85 billion student loan industry is facing a major investigation into the relationship between colleges and private lenders, and the problem didn't come out of nowhere. As U.S. News & World Report found in a 2003 investigation, the system of federally guaranteed loans was costing taxpayers hundreds of millions while taking lending business away from the government.
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