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Article: Graduate Leverage Suspending Participation in FFEL Program.
- Article from:
- Business Wire
- Article date:
- March 13, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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WALTHAM, Mass. -- Graduate Leverage (GL) announces that the unprecedented disruptions in the capital markets have limited its ability to issue federal loans. Thus, GL has temporarily suspended the funding of new FFEL loans effective immediately.
"Current market conditions prevent us from obtaining the capital required to fund our federal loan program," says Dan Thibeault, Graduate Leverage president and co-founder. "We are hopeful that market conditions will improve and we will be able to resume normal funding of student loans. Until that time, we are recommending students obtain their federal loans from another lender."
As part of this action, Graduate ...