Student Loan Reform Included in Health Care Vote
This week’s headlines are all about health care reform. The Senate is also expected to make changes to the student loan industry, which have been attached to health care reforms.
If the changes are passed, the Federal Family Education Loan (FFEL) program would be ended, saving taxpayers $61 billion over the next ten years. All federal student loans would be made through the government’s Direct Loan program instead of through both programs. The House approved this change back in September of 2009 as HR 3221, the Student Aid and Fiscal Responsibility Act of 2009. Read more from the New York Times.