Four months ago, it appeared all but certain that the White House and Democrats in Congress would succeed in overhauling the student loan business and ending government subsidies to private lenders. But an aggressive lobbying campaign by the nation’s biggest lenders has now put one of President Obama’s signature plans in peril, reports the New York Times, with lenders using sit-downs with lawmakers, town-hall-style meetings, and petition drives to plead their case and stay in business. Obama called the idea a “no-brainer” last fall, predicting it would take billions of dollars from the profits of private lenders and give it...

Subscribe to Read More

Are You an Educator?

Get Free online access to all our
news and resources and get
eCampus News Today email newsletter

About the Author:

Meris Stansbury

Meris Stansbury is the Editorial Director for both eSchool News and eCampus News, and was formerly the Managing Editor of eCampus News. Before working at eSchool Media, Meris worked as an assistant editor for The World and I, an online curriculum publication. She graduated from Kenyon College in 2006 with a BA in English, and enjoys spending way too much time either reading or cooking.