After two years of wrangling, the federal government is poised to cut its ties to Sallie Mae, the big student loan concern.

The House unanimously approved a privatization measure on Tuesday, and the Senate is expected to follow suit by the end of this week. The legislation, which President Clinton is expected to sign, has undergone a remarkable revival. It had been pronounced dead several times in the past two years.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.