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White House Takes Aim At Lobbyists Trying To Sink Student-Loan Bill
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| Contributor | Jason |
| Last Edited | Jason Feb 10, 2010 12:32am |
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| Category | General |
| Author | Sam Stein |
| News Date | Wednesday, February 10, 2010 06:00:00 AM UTC0:0 |
| Description | The Obama administration has launched a final push to get one of the president's signature education reform initiatives, lashing out in unusually strong terms at the lobbying effort that threatens its passage.
Taking aim at Sallie Mae, the largest student lender in the country and a driving force behind the lobbying effort, Education Secretary Arne Duncan on Tuesday accused the company of using taxpayer funds to lobby and advertise, and cast its executives as white-collar millionaires uninterested in serious education reform.
"Sallie Mae executives have paid themselves hundreds of millions of dollars in the last decade while teachers, nurses, and scientists -- the backbone of the new economy -- face crushing debt because of runaway college tuition costs," Duncan said.
In an interview with the Huffington Post, Duncan called the administration's plans to overhaul the student loan program by ending government subsidies for private lenders "a once-in a generation, maybe once-in-a lifetime" opportunity that Congress would be foolish to let slip away. |
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