BOSTON ( TheStreet) -- President Barack Obama, who wants to limit banks' investments and charge them fees to pay for future bailouts, took over student-loan programs in a bid to save $61 billion over 10 years.As part of the Healthcare and Education Reconciliation, the final legislative piece of health-care reform, the federal government will now directly dispense loans and grants through the Department of Education rather than give banks the subsidies to do so via the Federal Family Educational Loan Program (FFELP).
Obama Erases Banks From Student Loans
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.