Bill Seeks To Ensure Loans For "All" Students

Abstract: The Ensuring Continued Access to Student Loans Act (ECASLA) has done a good job of making sure students have access to federal student loans this year. But even as the law is shoring up the loan market for some students, it may have left others behind. H.R. 7072, introduced by Howard "Buck" McKeon, ranking member of the House education committee, would allow the Department of Education to open its liquidity plan to include rehabilitated loans. Another provision would reduce borrower confusion by mandating that loans retain their original servicers even after they’ve been purchased by the Department and another could bring more lenders back into the student loan program by allowing the Department to forward fund purchase agreements.

The full article was originally published in NASFAA’s Today’s News on 10/03/08.