Obama signs law finalizing health care, loan redo

Published March 30, 2010

WASHINGTON – President Barack Obama has signed a law that finalizes his health care overhaul and makes the government the issuer of all federal college loans.

The president completed the measure at Northern Virginia Community College, where he emphasized new help for college students.

The legislation was the second of two steps needed for the Democratic-led House and Senate to approve a health care package affecting virtually all Americans. The new law makes a series of fixes to the one Obama approved last week. It removes some unpopular provisions among other changes.

In the same swoop, Democrats added in a rewriting of college aid.

The new law strips banks of their ability to issue federal student loans in favor of direct government lending.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

WASHINGTON (AP) — President Barack Obama has signed a law that finalizes his health care overhaul and makes the government the issuer of all federal college loans.

The president completed the measure at Northern Virginia Community College, where he emphasized new help for college students.

The legislation was the second of two steps needed for the Democratic-led House and Senate to approve a health care package affecting virtually all Americans. The new law makes a series of fixes to the one Obama approved last week. It removes some unpopular provisions among other changes.

In the same swoop, Democrats added in a rewriting of college aid.

The new law strips banks of their ability to issue federal student loans in favor of direct government lending.

Written by PHILIP ELLIOTT, Associated Press Writer

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