March 25, 2005
Lawmakers Offer Direct-Loan Plan
A bipartisan group of senators and representatives has introduced a bill that aims to generate more than $17-billion in scholarship aid over the next decade by enticing colleges to participate in the direct-student-loan program instead of the guaranteed-loan program.
The introduction of the bill, the Student Aid Reward Act, is the latest development in a decade-long battle over direct lending, which has pitted advocates for banks and other financial institutions that participate in the
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