Let's hope the Obama administration and Congress stand up to this shameless, self-interested lobbying by the for-profit student loan industry, which has been feeding off the government trough for far too long.  George Miller nails it (as usual):

Representative George Miller, the California Democrat who has led the fight for the lending overhaul as chairman of the House Education Committee, predicted in an interview that the plan would ultimately pass.

"If people want to lose $80 billion on the taxpayer's dime for the very narrow interests of Sallie Mae, I guess they can decide that, but it makes no economic sense to me," he said. "They had a great ride for years."

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Industry Lobbying Imperils Overhaul of Student Loans

 

By ERIC LICHTBLAU

Published: February 4, 2010

www.nytimes.com/2010/02/05/us/politics/05loans.html