Did you know that the United States government revamped the student loan program? It was included in the final health care package. What does the student loan program have to do with health care? Heck if I know, but that is how our government works.
The United States government has now forced commercial banks out of the federal student loan market. This will reduce the profits at the banks that used to offer this service, though they will still get some income by servicing the loans. Theoretically it should save the government money. The Congressional Budget Office estimates that it will save the American taxpayer some $61 billion over 10 years.
Financial Infographics has created a nice graphic explaining the changes.
via Revamping the Student Loan System @ Financial Infographics.
