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Special Report - Banking, Finance & Investment - July 30, 2010
Changes to make federal student loan processing faster
New legislation effective July 1 ends bank-based federal student loans

By Chey Scott
Of the Journal of Business

For college students looking to apply for federal financial aid, the process of securing a federal loan this school year will be faster and more streamlined, but despite big changes in how the U.S. government runs the program, impacts on students should be minor, financial aid officials at colleges here say.

As part of the Health Care and Education Reconciliation Act of 2010, President Obama's much-debated health-care reform bill, the maximum amount of a Pell Grant will be increase...


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