The New York Senate passed a bill on Tuesday that would allow a debt-issuing authority to sell up to $750 million of bonds to make student loans for higher education. The bill was delivered to the Assembly, but there is no sponsor in that chamber for the bill, making its future uncertain as the 2008 legislative session nears its end on June 23.

Sen. Kenneth LaValle, R-Port Jefferson, sponsored the bill, which would enact the "I Live New York" program that would provide low interest loans to residents who are full-time students at a college or university in the state. LaValle is the chairman of the Senate Higher Education Committee.

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