As in my previous entry, the federal government will soon begin acting as a buyer of last resort for older student loans. Since announced in November, it set to begin in this month. It will aim to free up additional money to make federally guaranteed student loans, ensuring their continued availability.
According to the program, Education Department will buy the loans after 90 days of The Federal Financing Bank help. Education Department has announced an agreement with the Bank of New York Mellon.
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