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Second- and third-stringers eye 2016 if front-runner stumbles
Topic - Scott Fleming
It's one of President Obama's proudest achievements in education reform. And GOP challenger Mitt Romney is vowing to reverse it.
"The Obama administration has advertised this as a savings when in reality these loans are issued with Treasury debt that is not repaid until several years after they were issued. In addition, the administration has underestimated the true cost of the [direct loan program] by as much as 30 percent," said Mr. Fleming.
He noted that the Department of Education is already contracting out their student-loan services to the same providers that participated in the previous program.