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Student Loan Bill Clears House Committee

by Diverse Staff , July 22, 2009

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The Student Aid and Fiscal Responsibility Act of 2009 would largely remove private lenders from the federal student loan industry. 

According to the Washington Post, the bill cleared a House committee Tuesday and would generate an estimated $87 billion savings over 10 years to fund more government grants and loans. 

Republicans who are opposed to the legislation say it amounts to a federal takeover of student lending.



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