We at the Campaign for America’s Future congratulate the Senate today for passing historic student-loan reform, via a budget reconciliation bill that also contains historic health-care legislation. This reform ends wasteful billion-dollar bank subsidies with a shift to federal direct lending, and invests much of the savings to students. more »
Representative John Kline (R-MN) and Senator Mike Enzi (R-WY) introduced legislation this week that keeps our broken student loan system in status quo, with corrupt private lenders and federal bank subsidies worth billions. more »
Just when you thought that the dust had settled from the scandals of Wall Street (at least temporarily), details come out of another Ponzi scheme by the titans of banking, this time with student loans. more »
Earlier this week the House held a hearing on private student loans and bankruptcy, shedding light for the first time on a rather unknown yet devastating aspect of student debt. more »
The Student Aid and Fiscal Responsibility Act (SAFRA) is expected to be introduced in the House today. A historic bill, it will invest billions in student aid and higher education, while ending subsidies to banks (See Bob Brandon’s post outlining the bill here). more »
They must be desperate. Unhappy with the Obama plan to end subsidies for student loan lenders, Republicans look to mar the benefits gained by the plan. Touting findings by an unofficial CBO estimate, Republicans look to use it as ammunition to kill the historic Student Aid and Fiscal Responsibility Act. But with a closer look, their arguments receive a failing grade. more »
reuters.com — The $85 billion student loan business is in turmoil and with millions of U.S. students locking in funding for the coming school year, Congress is scrambling to make sure enough money is available.
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