"The $85-billion student loan industry is looking toward its next battle in the U.S. Congress - one that could be for its very survival - as President George W. Bush on Thursday signed legislation slashing federal subsidies to the troubled sector. As important as the bill-signing ceremony was to lenders and to their critics, what comes next could be even bigger," according to Reuters. "Should Democrats make major gains at the polls next year, they are likely to mount a direct challenge to the federally guaranteed student loan program that is central to the business models of most lenders, say some industry analysts."