Student Loan Bill Passes House

washingtonpost.com — The House, trying to avert a looming shortage in available student loans, approved a measure allowing the Department of Education to buy federally guaranteed loans that lenders are unable to sell to private investors. The action is intended to address a crisis in the market that has forced Reston-based Sallie Mae, Citigroup's Student Loan subsidiary and about 50 other lenders to stop writing some forms of student loans.

Read Full Article »