
Supporters of putting the government in charge of all federal loans say it would save an estimated $87 billion, but not everyone agrees.
Republican critics argue it is wrong to put the government in near-total control of student lending.
The money would boost Pell Grants for needy students and pay for a new college completion fund, community college reforms and more college aid for veterans.
Money also would be spent on things that don't help pay for college, such as construction at K-12 schools and new preschool programs.
The measure would do nothing to curb college costs, which rise much faster than Pell Grants do.
The bill would fulfill a campaign promise by President Barack Obama.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
Cutting Financial Aid







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