Members of Congress Ask for Student Loan Stability

CAPITOL HILL (AP) _ Democratic members of the House are asking the Bush administration to shore up the shaken student loan market before students are deprived of the chance to attend college.

More than 20 Democrats have sent a letter to Treasury Secretary Henry Paulson and Education Secretary Margaret Spellings urging them to act.

The members of Congress want Paulson and Spellings to work with institutions such as the Federal Reserve and the Federal Home Loan
Bank System and have them help restore stability to the student loan market by ensuring cash reserves would be available. The letter does not lay out precisely how such a plan should work.

A Treasury spokeswoman says the department is reviewing the letter.

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