The historic health care legislation passed by the House of Representatives this week not only means sweeping health care reform but also revamps the federal student loan program.
In short, the bill, attached to the health care legislation, "would end government payments to private, commercial student lenders, leaving the government to lend directly to students. It would also redirect billions of dollars to expand the Pell grant program for low-income students, and to pay for other education initiatives."
To fully understand the impacts of the bill on student lending, please explore these links.
From The Washington Post: "Obama's student loan plan moving forward with health bill"
From The New York Times: "Deal Gives New Life to Overhaul of Student Loans"
From National Public Radio: "Health Care Reform Could Revamp Student Lending"
From GoCollege.com (higher education blog): "With Health Care Vote, Congress Puts an End to FFEL Student Loan Program"
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