student loans Follow

House Passes Student Loan OverhaulSept. 17, 2009 WASHINGTON (UPI) -- The U.S. House approved legislation that would overhaul the student loan market by setting up the federal government as the lone provider of college loans. The House vote was 253-to-171, largely along party lines, The Wall Street Journal reported. Under the legislation, private lenders would be blocked from the market for originating loans, but private banks and lenders still would be able to bid for a limited number of contracts to service loans after they are made by the government. The bill is another plank of the ambitious domestic agenda...