WASHINGTON – Because of continuing concerns over access to student loans and stability in the student lending market, the U.S. Department of Education has announced that it is taking steps to ensure that students will be able to obtain federal student loans.

The department said it will duplicate for the 2009-10 academic year the loan purchase and participation programs that it undertook for the 2008-09 school year. The department said the Bush Administration will provide liquidity support to conforming Asset-Backed Commercial Paper conduits to purchase and provide longer-term financing for Federal Family Education Loan Programs. Loans in the conduit will be financed with new issues of Asset Backed Commercial Paper. The Education Department said it will support the effort by committing to purchase eligible student loans from the conduit in the future at a prearranged price.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Dig Deeper


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.