December 21, 2001

Senate Is Poised to Approve Shift in Student-Loan Interest Rates

By STEPHEN BURD

The Senate is poised to approve legislation that would avert an impending crisis in the guaranteed-student-loan program and eventually reduce the cost of borrowing for students.

Senate passage of the bill, which was introduced by Sen. Tim Johnson, a South Dakota Democrat, would be a major victory for advocates of lenders and students, who worked closely to forge the agreement on which the bill is based. The House of Representatives is expected to approve the bill soon after the Senate

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