April 10, 2009
Education Department Cancels PLUS Auction
The U.S. Department of Education has cancelled its Parent PLUS Auction scheduled to take place on April 15, 2009. In an announcement late yesterday, the Department stated, “In order for the auction to have been considered successful for any State, at least two lenders must have submitted pre-qualification requests for that State. However, the Department failed to receive two requests for pre-qualification for any State, and for the vast majority of States the Department received no requests at all.” The Department will announce the cancellation through a Federal Register notice in the coming days.
Education Department Cancels PLUS Auction
The U.S. Department of Education has cancelled its Parent PLUS Auction scheduled to take place on April 15, 2009. In an announcement late yesterday, the Department stated, “In order for the auction to have been considered successful for any State, at least two lenders must have submitted pre-qualification requests for that State. However, the Department failed to receive two requests for pre-qualification for any State, and for the vast majority of States the Department received no requests at all.” The Department will announce the cancellation through a Federal Register notice in the coming days.
