"Momentum has been building for the federal government to take increasingly aggressive steps to wade into the student loan markets, even amid continuing disagreement about whether and/or how serious a crisis there really is," Inside Higher Ed reports. "[A]ides to lawmakers on the Senate Health, Education, Labor and Pensions Committee are floating another idea that lenders favor but critics deride as an unprecedented, unnecessary and potentially damaging bailout. Under the proposal... the Education Department would commit to buying 'from time to time any or all of such loans originated or purchased by' any lender that so desires, at the face value of the loan. The plan would then allow the lender to repurchase 'any of the loans sold to the Secretary' within a year 'upon the same terms and conditions' under which the department bought the loans from the lender. The arrangements, known as 'standby loan purchase agreements,' would be possible through July 2009."