December 2, 2005

House Narrowly Passes Bill That Cuts Into Student Loans

By STEPHEN BURD

Measure would slash spending on programs and make refinancing loans more costly

The U.S. House of Representatives has approved, by the slimmest of margins, legislation that would make it significantly more expensive for borrowers to consolidate their federal student loans.

The bill (HR 4241), which passed by a vote of 217 to 215, would cut about $50-billion from federal entitlement programs by the end of the decade, with more than a third of the reductions —

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