The Nation - News from Sept. 26, 1986

The Senate approved legislation authorizing $10.2 billion for college student loans in fiscal 1987. Senators approved the bill by voice vote one day after the House passed it, 385 to 25, and the measure was sent to President Reagan to be signed. Supporters said the bill prevents unnecessary borrowing and weeds out students who do not have a great need for loans. The bill, a compromise of original House and Senate measures, raises the amount an undergraduate may borrow during four years to $17,250 from $12,500 and increases the cumulative limit for undergraduate and graduate loans to $54,750.