FOR IMMEDIATE RELEASE
CONTACT: Stephanie Babyak (202) 401-1576
March 13, 1998
STATEMENT BY ACTING DEPUTY EDUCATION SECRETARY MARSHALL S. SMITH regarding the House proposal on the 1998 student loan interest rate change
The latest proposal is a good start. I'm pleased it recognizes the need to protect students from banks. Now I hope Congress will join us in protecting taxpayers. The Administration continues to believe that students can be protected without taxpayers subsidizing the record profits of lenders.
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