Senate Approves Bill That Cuts Lender Subsidies

Law360, New York (July 20, 2007, 12:00 AM EDT) -- The U.S. Senate on Friday approved a bill that would implement sweeping changes to the country’s student loan programs by providing more than $17 billion in grants and student aid while cutting subsidies to student loan companies.

The Higher Education Access Act of 2007 (S. 1762), which passed with an overwhelming vote of 78 to 18 in the Senate, now heads to conference to resolve differences with a similar bill approved by the House on July 11. Congress’s approval of these measures comes at the peak...
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