Quoted In: Student loans keep flowing (Long Island Business News)

"Despite some banks’ decision to discontinue their student loan programs, federal student lending is rebounding due to aggressive government efforts and an influx of cash to fund private loans, according to experts…

Frills on federal loans aren’t as favorable as they once were, since banks no longer compete with discounts and perks based on payment options.

“Borrower benefits at this point have gone by the wayside,” said Justin Draeger, vice president of planning for the National Association of Student Financial Aid Administrators in Washington, D.C… 

But Draeger said Congress helped stabilize the market last May by passing the Ensuring Continued Access to Student Loans Act, which let lenders sell new loans to the Department of Education.

“I think it stopped a mass exodus of lenders, who had been leaving in droves,” Draeger said. “We saw a stabilization.”

The full January 20th article is available online.