The House Committee on Education and Labor voted 30 to 17 Tuesday for a bill that would effectively end for-profit student lenders' participation in federally subsidized and guaranteed student loans.

The Student Aid and Fiscal Responsibility Act would stipulate that all future student loans be made directly by the government through colleges and universities, though they may be serviced through nonprofit or state lenders.

Republican committee members tried to add legislation that would allow for-profit lenders to continue to participate in the government-guaranteed program, but the amendments, offered in different forms by Rep. Brett Guthrie, R-Ky., and Rep. Tom Price, R-Ga., failed.

A full House vote on the bill could still come before Congress' August recess.

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