Bankers say student aid legislation costly to taxpayers

The Student Aid and Fiscal Responsibility Act would make more federal money available to college students, but opponents of the legislation say it would be expensive for taxpayers and a "setback for students." "Bankers don't think it's a good idea; they believe it creates a government monopoly," said Harrison Wadsworth, who represents the Consumer Bankers Association. "They also question the amount of savings that are claimed to be generated by the legislation."

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