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House APPROVES Student Loan Bill

On The Money

First Posted: 05/22/10 06:12 AM ET Updated: 05/25/11 04:55 PM ET

The Washington Post:

Legislation hailed by supporters as the most significant change to college student lending in a generation passed the House on Sunday night.

The student aid initiative, which House Democrats attached to their final amendments to the health-care bill, would overhaul the student loan industry, eliminating a $60 billion program that supports private student loans with federal subsidies and replacing it with government lending to students. The House amendments will now go to the Senate.

Read the whole story: The Washington Post

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Filed by Leah Finnegan  |