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Other loans, this person argued, were never before disputed by Fannie Mae.
It has agreed to provide about $195 million in loans, this person said.
Also, while the chaebol enjoyed privileged access to loans, this was conditional on meeting export targets.
The Obama administration estimated that the fix would help 11 million borrowers who will take out loans this school year.
Since the federal government spends $150 billion a year on student aid (mostly in the form of loans), this would be a powerful lever.
Recent action by federal regulators means that just one bank, the Republic Bank & Trust Company of Louisville, Ky., is offering the loans this tax season.
Similar(34)
The central bank will offer another round of three-year loans this week, and there is intense speculation about how strong the demand will be this time.
The firm plans to open as many as 50 offices to make such loans this year.
Some 300,000 students will get low-interest loans this year.
They wound up having to raise rates anyway on their lowest-rate loans this summer.
How many students took out loans this year and how much did they take out?
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