Now we see one of the reasons the Senate is including student loans in reconciliation — they don’t want to tax rich people (as the House does) so they’re stealing the money from community colleges. The Senate HELP Committee is currently writing the student loan reconciliation bill that the House has to pass (the House [...]

The good news is that Democrats might have to include some form of student loan reform in the reconciliation bill to meet the cost-saving requirements of their reconciliation instructions. From Politico: The Senate parliamentarian notified Democratic leaders that, in order to meet the reconciliation requirements, both the Senate health and finance committees would need to [...]

With little public notice or fanfare, the federal government has been providing financial institutions involved in the student loan business with a bailout projected to be over $100 billion: 2007-2008 2008-2009 2009-2010 TOTAL Loan Purchase Commitment Program $997,945,088 $48,538,600,137 $2,540,422,115 $52,076,967,340.00 Loan Participation Purchase Program $33,359,067,388 $25,565,704,156 $58,924,771,544.00 Asset-Backed Commercial Paper $31,540,088,059 $31,540,088,059.00 This makes [...]