Sen. Conrad scores special student loan deal for ND bank - - in HEALTH reconciliation

[Bluebear]

Senate Budget Chairman Kent Conrad (D-N.D.) said Thursday that the Bank of North Dakota would continue to receive federal subsidies under the health care reconciliation bill that would eliminate most federal subsidies to banks that make student loans.

Conrad, a proponent of the health care legislation, called it an "unusual situation" because the bank is "owned by the people of the state." He said any other bank meeting the same criteria also should be exempted.

Conrad told reporters that he didn't ask for the exemption and he reiterated that he already supported the education provisions added to the health care legislation.

http://thehill.com/blogs/on-the-money/banking-financial-institutions/87707-conrad-confirms-bank-exemption-
Section 2213. Agreements with State-Owned Banks. This section amends Part D of Title IV to direct the Secretary to enter into an agreement with an eligible lender for the purpose of providing Federal loan insurance on student loans made by state-owned banks.


http://docs.house.gov/rules/hr4872/111_hr4872_secbysec.html

[lamp_shade]

1. Good for him.

[w4rma]

2. … (nt)