BofA suspending federal student loan program - Yahoo! News:
"CHARLOTTE, North Carolina (Reuters) – Bank of America Corp will suspend its federally-backed student loan program by December 5, the company said in a letter to colleges and universities on Friday, as the U.S. gets ready to end the program entirely.
A number of becomes banks have said they would exit the Federal Family Education Loan Program, this year.
The Student Aid and Fiscal Responsibility Act of 2009 would replace the FFELP program with direct government loans. It has passed the U.S. House of Representatives and is awaiting a Senate vote, but it strongly supported by President Obama and widely expected to become law."
"CHARLOTTE, North Carolina (Reuters) – Bank of America Corp will suspend its federally-backed student loan program by December 5, the company said in a letter to colleges and universities on Friday, as the U.S. gets ready to end the program entirely.
A number of becomes banks have said they would exit the Federal Family Education Loan Program, this year.
The Student Aid and Fiscal Responsibility Act of 2009 would replace the FFELP program with direct government loans. It has passed the U.S. House of Representatives and is awaiting a Senate vote, but it strongly supported by President Obama and widely expected to become law."
