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Bank of America Ends Private Student Loan Business

HeadlineApr 18, 2008

Meanwhile, the student loan crisis is worsening. On Thursday, Bank of America announced it is ending its private student loan business for the coming year. The bank will continue to offer loans through the federal student loan program. The Boston Globe reports more than fifty firms have abandoned or cut back their federal or private student loan programs this year, unable to raise money in the financial markets.

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