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CUNA Seeks Student Loan Bill Carve-Out

As a bill to lower private lender subsidies works its way through the legislative process, CUNA is trying to add credit unions as part of the exemptions.

By Staff Writer | Updated on July 17, 2007

WASHINGTON — As a bill to lower private lender subsidies works its way through the legislative process, CUNA is trying to add credit unions as part of the exemptions.

The College Student Relief Act of 2007 (H.R. 5), with more than 200 co-sponsors, would cut the rates for all private lenders to make the loans more affordable for students. When the subsidy rate was set, rates were higher and since they have dropped lenders have “been enjoying a huge windfall,” CUNA Vice President of Legislative Affairs Dean Sagar said.

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