2007 College loan forgiveness balloons

by Alain on November 24, 2015
2007 College loan forgiveness balloons

Program created by 2007 law meant to encourage public defenders and doctors in underserved areas by providing college loan forgiveness has ballooned into multi-billion dollar cost. Law written so broadly that 25% of jobs can be covered by it. Colleges are pushing students into it. House of Rep. and the WH have asked for changes to the program, but the Senate hasn't taken it up. (McConnell; Not leading from nowhere. ABA & AMA are in favor of program. That's a lot of lobbyist money.) I'm sure Bush viewed as 'pragmatic' politics solving a problem. But of course, it's a normal gov't program, uncontrolled and way over projected cost.

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  1. Alain41 says:
    November 25, 2015 at 09:56

    In other, It’s our money news: Health Ins. cos. that lost money, by the original Ocare law, were supposed to get reimbursed through risk corridors. However, Rubio in Cromnibus restricted reimbursement to the amount contributed by profitable health ins. cos. Thus resulting in a $2.5 billion loss total for several insurers. Well, Rubio’s amendment expires in 2 weeks (Dec. 11) and unless Republicans keep it in the new auth. bill, we taxpayers will be sending the $2.5 bil. to health ins. cos. Any comment, Ryan? McConnell? http://www.washingtonexaminer.com/obamacare-fights-for-insurer-bailout/article/2577088

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