Congress votes to take commercial banks out of the federal student loan market

Financial aid restructuring was part of the landmark health care bill
March 26, 2010
From The New York Times: Congress has voted to force commercial banks out of the federal student loan market. The sweeping restructuring of financial-aid programs cuts off billions of dollars in profits and redirects most of the money to new education initiatives.
Sign up for American School & University Newsletters
Get the latest news and updates.