A showdown over student loans is the latest budget battle
The Obama administration appears to be headed for a tough battle with the private student loan industry and its supporters in Congress. The Congressional Budget Office wants to forgo subsidized loans for direct government lending, a move that the loan industry says may cost them billions. President Obama wants to end a subsidized loan program and redirect billions of dollars in bank profits to scholarships for needy students. For more on this looming battle, The Takeaway talks to David Herszenhorn from our partner The New York Times. For more on the looming budget battle, read David Herszenhorn’s article, Plan to Change Student Lending Sets Up a Fight, in today’s New York Times.
The World is an independent newsroom. We’re not funded by billionaires; instead, we rely on readers and listeners like you. As a listener, you’re a crucial part of our team and our global community. Your support is vital to running our nonprofit newsroom, and we can’t do this work without you. Will you support The World with a gift today? Donations made between now and Dec. 31 will be matched 1:1. Thanks for investing in our work!