"Republicans argued it is wrong to put the government in near-total control of student lending.

I'll bet they DID... the Republicans don't want anyone to get between them & their cash-cows. Loan companies, including those who have made student loans, are BIG business...and big business doesn't like regulation. It's the same basic attitude that the health-care powerhouses are showing...they want ALL transactions funneled thru THEIR systems, with as much control as possible over what fees they can charge and who they can decide to lend to...in other words, self-regulating of the skimming.

This bill still has to get through the Senate, and that's gonna be a lot harder, as way too many senators...even some Democrats... have taken way too many contributions from the aforementioned big business.