June 22, 2007

Panel Slashes Lender Subsidies

By KELLY FIELD

A Congressional education panel approved a bill last week that would slash lender subsidies and use the savings to pay for an increase in student aid.

The bill, known as a "budget reconciliation" measure, would also direct $750-million to reducing the federal deficit.

Before voting on the bill, the U.S. House of Representatives Education and Labor Committee adopted several amendments offered by Democrats that would expand eligibility for Academic Competitiveness Grants and Smart

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