This bill saves billions for student aid by starting the switch to direct loans.
The world (and the House Education & Labor Committee) is just full of good news for students/bad news for the student loan industry today. Check out my Huffington Post on the latter matter.
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As a result of the STAR Act, thousands of students could end up with loans that carry higher interest rates and higher fees. The Direct Loan program charges a 3 percent fee, a fee most lenders don't charge--this fee ought to be called the STAR Tax.
What is the point of that? Why would you support such an idea?
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