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Today President Obama will sign the piece of his health care overhaul that makes the government the primary lender to students and strips banks of that power.

The new bill would cut out the fees the banks get for acting as middlemen in federal student loans. The government would use the savings to boost Pell Grants and make it easier for workers to repay their student loans.

In addition, some borrowers could see lower interest rates and higher approval rates on student loans…

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