A bipartisan group of four congressional staffers gave the Department of Education a rhetorical beating Friday over its cumbersome interpretation of a new law meant to help student loan lenders and said that Congress will likely have to act yet again to prevent private lenders that sell federally-guaranteed loans from going out of business.

The staffers, who spoke at a conference held by the Education Finance Council in suburban Washington, all indicated varying degrees of disappointment with a DOE plan to assist lenders who participate in the Federal Family Education Loan, or FFEL, program, including state-level agencies and nonprofits that sell tax-exempt bonds backed by student loans.

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