If the federal government shuts down on Saturday, some students will have to wait longer for their aid, federal oversight of colleges and lenders will lapse, and the Education Department's controversial "gainful employment" rule could be further delayed.
But a government shutdown probably would not have long-term consequences for students and colleges, according to lobbyists, student-aid administrators, and former government officials who lived through the last shutdown 15 years ago.
During that 21-day shutdown, which spanned late 1995 and early 1996, federal contractors and servicers weren't paid, and questions submitted the Education Department went unanswered. New regulations were postponed, and federal audits and program reviews were suspended.
Source: The Chronicle of Higher Education
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