student loans

chronicle.com — Sallie Mae, the nation’s largest student-loan company, is taking another step away from the government-backed student-loan business, further exacerbating the sense of crisis hanging over the industry.

boston.com — Students may increase their borrowing for college by $2,000 a year and private lenders could sell the debt to the government for a profit under legislation approved by a House panel yesterday. The measure, passed by the House Education and Labor Committee on a voice vote, is intended to ensure that turmoil in the credit markets doesn't prevent students from financing their educations, sponsors said.

californiachronicle.com — Working families and their college-bound children would get the information they need to protect themselves from predatory student loans under a bill by Assembly Speaker pro Tempore Sally Lieber (D-San Jose) facing heavy banking industry opposition at 1:30 p.m. today in the Assembly Higher Education Committee.

Reuters — The Education Resources Institute Inc, which calls itself the largest not-for-profit guarantor of U.S. private education loans, has filed for Chapter 11 bankruptcy protection, saying rising defaults and credit market problems have damaged liquidity.