Congress finally does something right...

http://www.nytimes.com/2007/09/08/washington/08loan.html?_r=2&th=&adxnnl=1&oref=slogin&emc=th&adxnnlx=1189433534-KZY8ZOen/Otc7oiaKR4VGg&oref=slogin

So Congress was finally productive and passed a bill that sharply cuts funding subsidies to lenders and transfers those funds to student grants. Its terrible how students get so far into debt so early in their lives, what they need is more grant money. The final bill, hammered out this week in a House-Senate conference committee, "alters many of the ground rules for financing higher education, offering forgiveness on student loans to graduates who work for 10 years or more in public service professions like teaching, firefighting and the police, and limiting monthly payments on federally backed loans to 15 percent of the borrower’s discretionary income."

Finally, some of the $12 billion that the Republicans took out from federal student aid programs last year is beginning to be put back.
Furthermore, the lower half of the article reveals corruption in the student loan industry, with one expert saying “I don’t know how we can treat banks as credible arbiters of what appropriate subsidies should be.” The violations that are being investigated show the corruption and greed with these lenders, and how so many students have become victims deep in debt.