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WASHINGTON — Congressman Paul Kanjorski (D-Pa.) and 20 other Members of the U.S. House of Representatives have urged Secretary of the Treasury Henry M. Paulson, Jr. and Secretary of Education Margaret Spellings to take action to ensure that students can afford higher education.

In recent weeks, the liquidity of the student loan market has considerably tightened, according to Kanjorski’s office. Lenders participating in loans under the Federal Family Education Loan Program engage in securitizations as strategy, but liquidity is now threatened by the continuing credit crunch. College Loan Corporation, one of the largest lenders, has already announced that it will no longer participate in FFELP.

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