A key component of the recently passed Health Care and Education Reconciliation Act will result in several significant modifications to the how federal student loans are offered and processed.
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Under the Student Aid and Fiscal Responsibility Act (SAFRA), the federal government will lend directly to students, ending billions of dollars in wasteful subsidies to student lending firms.
Legislation hailed by supporters as the most significant change to college student lending in a generation passed the House on Sunday night.
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