Yesterday, The Wall Street Journal, published an op-ed by U.S. Secretary of Education Arne Duncan. In the piece, Secretary Duncan makes the case that banks don’t belong in the federal student loan business and that the subsidies they currently receive through Federal Family Education Loan program would be better spent on student aid. The Senate is expected to act on the legislation when it returns in the new year.
The Wall Street Journal Op-Ed: Banks Don’t Belong in the Student Loan Business