On March 25th, 2010, the U.S. House of Representatives and the U.S. Senate passed The Health Care and Education Affordability Reconciliation Act of 2010. This bill makes major changes in several federal student aid programs AND mandates the Federal Direct Loan Program. The Family Federal Education Loan Program, which permitted private lenders to originate these loans, is eliminated effective June 30, 2010. President Obama signed the bill into law on March 30th, 2010.
Posted in: Federal Direct Loan