Student-loan middleman on way out?


Student-loan middleman on way out?

Columbus Dispatch – A landmark overhaul of the federal student-loan program included in the health-care bill is expected to produce $61 billion in taxpayer savings and allow increases in college Pell Grants, proponents say.

Having the federal government administer all student loans directly rather than pay private lenders won't mean changes for students and parents if the Department of Education does its job.

But Democrats in Congress and the Obama administration say that change will free $36 billion more for Pell Grants. That will raise the maximum Pell Grant from $5,350 this year to $5,975 by 2017 and end a funding shortfall.

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