May 1, 2008

Senate Acts to Head Off Student-Loan Crisis

By Kelly Field

Washington

The U.S. Senate passed a bill on Wednesday that seeks to avert a shortfall in student loans, a day after President Bush urged Congress to act quickly on the legislation.

The bill, HR 5715, which the House of Representatives passed in mid-April, seeks to stem the departure of loan companies from the federally guaranteed student-loan program and reassure families that student loans will be available in the fall. More than 50 lenders have left the federal program in recent weeks,

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