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Student Loan Bill Passes House Without "for profit" Lenders.

sheltercrow posted on Sep 18, 2009 | views: 43 | Tags: Congress, predatory lending, Sallie Mae, student loans, school

Student Loan Bill Passes House - Private, "for profit" cut out

Submitted by Robert Oak on Thu, 09/17/2009 - 13:12.

No more feeding off of desperate students. That's what the House said today in passing H.R.3221, the Student Aid and Fiscal Responsibility Act of 2009. In a huge screw you predatory lenders, from now on the government will be the sole provider of guaranteed student loans.

Read the rest.

Source: Economic Populist

Related: Student Aid and Fiscal Responsibility Act | Committee on Employment and Labor



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Comments

  • starchini said on Sep 18, 2009....
    AWESOME
  • sheltercrow said on Sep 18, 2009....
    It's estimated that eliminating the subsidy to the banks will save $40 billion that can be transferred into the Pell Grant program that provides college grants to moderate and low income students.

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