Conventional wisdom holds that the bank-based loan program may be on its last legs, even if Congress fails to act on legislation to overhaul the student-loan system. But many banks may find ways to keep issuing loans, say Paul Basken and Sara Hebel.

Kelly Field, The Chronicle's chief Washington reporter, and Sara Hebel, our politics editor, spend a minute (or so) each week discussing the key higher-education debates and behind-the-scenes maneuvering taking place in the nation's capital. Other Chronicle reporters and special guests will be filling in for Kelly Field while she is on family leave. Look for new episodes every Tuesday.