This should come as great news to any future college student.
"The new law will eliminate fees paid to private banks to act as intermediaries in providing loans to college students and use much of the nearly $68 billion in savings over 11 years to expand Pell Grants and make it easier for students to repay outstanding loans after graduating. The law also invests $2 billion in community colleges over the next four years to provide education and career training programs to workers eligible for Trade Adjustment aid."
So, no more going to the local bank for a student loan. You can get it directly from the government. Which is better because of lower fees/APR.
