The New York Times published an editorial this morning entitled Helping Students, Not Lenders. They highlight President Obama's efforts to save taxpayers $47.5 billion over ten years and make loans more dependable for students.
This builds upon Rep. Miller and the Education and Labor Committee's efforts in the 110th Congress.
We encourage you to read the entire editorial.
The budget rightly calls for phasing out the wasteful and all-too-corruptible portion of the student program that relies on private lenders. And it calls for expanding the less-expensive and more-efficient program that allows students to borrow directly from the federal government. That means doing away with the Federal Family Education Loan Program, under which private lenders receive unnecessary subsidies to make risk-free student loans that are guaranteed by taxpayers.
This builds upon Rep. Miller and the Education and Labor Committee's efforts in the 110th Congress.
We encourage you to read the entire editorial.
