Student loan industry still in limbo, despite new law: Sallie Mae, others wait for details from government

A federal bill intended to bail out student loan lenders like Sallie Mae, one of central Indiana's top employers, has raced like a bullet through Congress-a remarkable feat for Washington lawmakers. But what the future holds for embattled student lenders remains murky. While the newly passed measure will increase liquidity by allowing the U.S. Department of Education to buy loans, it leaves responsibility for working out the details to bureaucrats. In effect, Congress said in the bill that the Department...

 

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