(See Related Posts below for updates on the PLUS Loan Auction)
I have spent some time this afternoon searching for an update on the pilot PLUS Loan Auction, the mechanism by which the Department of Education would designate two lenders to be exclusive PLUS loan providers for each state. Their selections would be based on a closed bidding process described in the College Cost Reduction Act.
The last update I came across was posted in NASFAA News on November 13, 2008. Here were a few excerpts from that report: