Here is what they haven't told us: The Education Department will borrow money at 2.8 percent from the Treasury, lend it to you at 6.8 percent and spend the difference on new programs. So you'll work longer to pay off your student loan to help pay for someone else's education -- and to help your U.S. representative's reelection.
From an op-ed in The Washington Post, “Why make government the prime source for student loans?”, by Senator Lamar Alexander (R-TN).
Sunday, March 7, 2010
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