Three Cheers for the New Student Lending Law (The Atlantic)
"Today President Obama signed a bill that overhauls of the student loan industry. For decades, the federal government has supported student lenders by backing loans originated by private banks. Today we take back the bank subsidy and use it to spend down the deficit and pay low-income kids to finish college. Good day."
This change in backing could save the federal government billions of dollars that was going to private banking before. More here: