House Approves Obama's Plan to End Student-Loan Subsidies (SLM, APOL, ESI, more)

The U.S. House has approved President Obama's plan to end student-loan subsidies in a 253-171 vote. The bill will now be passed to the Senate for further approval.

Shares of SLM Corp. (NYSE: SLM) spiked lower on the news (about a percent), but have now rebounded to where the price was before the approval was confirmed. The stock is now down 3.5% to $8.92.

Elsewhere in the Eduction sector, stocks have continued moving higher all day, but none are spiking sharply on the news.

• Apollo Group (Nasdaq: APOL) - up 1.3% to $68.34
  
• ITT Educational Services (NYSE: ESI) - up 1.3% to $100.72
  
• DeVry (NYSE: DV) - up 1.3% to $51.94
  
• Strayer Education (Nasdaq: STRA) - up 0.9% to $204.93
  
• Career Education (Nasdaq: CECO) - up 2.8% to $23.24

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