Bush prods Congress on student loan crunch »
Posted By MyWayOnNow 5 months, 2 weeks ago in Business & FinancePresident George W. Bush pressed Congress on Saturday to pass legislation to ease a credit crunch in the $85 billion student loan market that could make it harder for students to go to college.
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korr5 months, 1 week ago
Well Friday the Federal Reserve decided it was going to open the Term-auction facility to student lenders - effectively offering to trade any student loan "paper" for treasuries that could be counted as reserves for the issuance of new loans. Its similar to what the federal reserve is doing for investment banks lately, and its intended to free up whatever liquidity is needed to keep availability of new loans.
http://freecollegeblog.com/2008/05/05/federal-r...
Then I read again today that Congress is still pushing forward with the bailout legislation! Obviously, this is going to get expensive quickly, but I bet the student loan companies still in the business are going to have good profits this year.
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