Bush people just keep on giving welfare to big corporations...

[whistle]

... instead of directly to college students who can benefit:

<snip>
GAO CONFIRMS BUSH IS CHOOSING TO GIVE AWAY BILLIONS IN FEDERAL COLLEGE AID TO PAD CORPORATE PROFITS
Today, a new report from the Government Accountability Office (GAO) confirmed that George Bush is going out of his way to do special favors for banks administering student loans, diverting resources that could be used to help students paying tuition.

Currently, the federal government pays banks to provide loans to students with a government-guaranteed rate of return. But instead of providing a reasonable rate of return, a loophole in the law gives many banks a guaranteed return of 9.5%. With no risk whatsoever, these banks receive a massive subsidy of nearly $1 billion annually straight from taxpayers – money that could be used to expand college access.

While the Bush Education Department claims it is powerless to close this loophole, GAO's report shows the Administration is wrong. The report, subtitled "Statutory and Regulatory Changes Could Avert Billions in Unnecessary Federal Payments," specifically says that GAO "disagrees with Education" and thinks its reading of the law is not right.


<link> http://blog.johnkerry.com/rapidresponse/archives/002884.html#more