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Fargo Forum: "Franken hears from MSUM students about loan debt"

Friday, November 13, 2009

Fargo Forum reports on the student roundtable with Sen. Franken on Thursday where the Senator talked about student debt and his support for a direct lending program.

Franken, D-Minn., supports a measure in the Senate that would streamline the student loan system and put the savings into making college more affordable.

The eight MSUM students who met with Franken said they expect to graduate with about $25,000 to $65,000 in student loan debt....

The proposal Franken supports would end bank-based federal student loans and switch schools to the Direct Loan Program.

The switch is estimated to save $87 billion, which will be reinvested in federal Pell Grants and other initiatives to make college more affordable. The U.S. House approved the legislation in September.

 

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