Obama has stated his intention to shut down federal subsidies to private student loan lenders and go exclusively with direct federal loans.
It should save $5 billion a year for the taxpayers and lower interest rates for students, so everyone wins....Except, of course for the private lenders, who are basically parasites anyway, so it doesn't bother me.
I believe taht he can do most of this through executive order, which is a good thing.
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