Since I am a student right now, this hits home for me.
According to WREX in Rockford, Congress has voted to end the Federal guarantees to private student loans. In its place will be loans made directly by the feds. The average student won’t know or care; they will still be able to obtain loans…but the loan won’t be from Wells Fargo, Chase, or anyone else but the government.
It also appears that the FAFSA will discard questions about assets and some income types, possibly shortening the form. To my knowledge, the President has not signed this into law yet. But with voting closely following party lines in Congress, it would be hard to imagine President Obama will cross party lines to veto the bill.
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