A Halfway Measure on College Loans – New York Times

The Republican Congressional leadership had to be dragged, kicking and screaming, but it has finally pledged to do the right thing and close an appalling loophole that permits lenders to skim billions from college loans, money that should be going directly to students. The loophole, which guarantees lenders a mammoth 9.5 percent return on loans for which the prevailing rate is 3.5 percent, is especially outrageous at a time when college aid is falling far short of the national need.