July 13, 2007
New government loan program proposed
I just heard about this, courtesy of NCHelp.org. This could be quite helpful to students who need more than they can get through Stafford and PLUS loans!!
Senators Introduce Bill to Establish Supplemental Loan Program
Senators Sherrod Brown (D-OH) and Bernard Sanders (I-VT) recently introduced S. 1720, a bill that seeks to establish a Federal Supplemental Loan Program to provide financial assistance to full time students that would supplement loans made under the Federal Family Education and Federal Direct Loan Programs. The loans, which would be made directly by the Department of Education, would carry an interest rate that would cover the cost of the loans to the government. This loan program would offer an alternative to private education loans. The bill has been referred to the Senate Health, Education, Labor and Pensions Committee for consideration.
THe actual bill can be read starting on Page 3 of today’s Daily Briefing from NCHelp.org.