March 18, 2005
House and Senate Budget Plans Diverge Over How to Use Savings From Loan Program
The Budget Committees of the U.S. Senate and House of Representatives last week approved separate budget plans for the 2006 fiscal year that would reduce government subsidies for lenders participating in the guaranteed student-loan program. But the resolutions, which were passed on party-line votes, presented very different ideas over how savings from the subsidy cuts should be spent.
The Republicans in charge of the House Budget Committee called for devoting an unspecified portion of
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