The new law will eliminate fees paid to private banks to act as intermediaries in providing loans to college students and use much of the nearly $68 billion in savings over 11 years to expand Pell Grants and make it easier for students to repay outstanding loans after graduating. The bill is H.R. 4872 and can be viewed here: http://thomas.loc.gov/cgi-bin/bdquery/z?d111:h.r.04872: