I’m sure many people missed the fact that the federal government take over of the student loan program was included in the health care bill. Quietly, provisions were weaved into the Democratic health bill that would require all federal student loans to originate with the government.
“The changes would see the Department of Education become virtually the sole provider of student loans through a government-backed program that accounts for the vast majority of loans made,” Dow Jones Newswire’s Corey Boles said March 22.
“If the federal government is given responsibility for making and administering all loans, there the quality of service in loan administration could be poor, presenting challenges for borrowers and colleges,” The Heritage Foundation’s Dan Lipps wrote in 2009.
Is there anything that Obama doesn’t want to take over?