Hey all – We’ll have more on this later, but wanted to give you a head’s up on changes to the federal student loan program. The new legislation was attached to the health care bill, which passed on Sunday, March 21, 2010. The senate still must have its say but it appears the legislation will pass.
Generally speaking the legislation will overhaul the student loan industry, eliminating a $60 billion program that supports private student loans with federal subsidies and replacing it with government lending to students.
Here’s a Washington Post article summarizing the changes.
Mara will have more on this topic very soon.