Fiscal Year 2010 Education Department Budget Proposals
2009-03-12T20:08:07-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvNmVjXC8yODQ1ODQtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Secretary Arne Duncan testified about the proposed fiscal year 2010 budget for the Department of Education. In his testimony, he outlined the Obama administration’s plans to eliminate subsidies for private lenders who make federally guaranteed student loans. Instead, the government would make such loans directly, with banks and other financial companies merely servicing the loans.
Members questioned whether the Education Department had the capacity to originate all federally backed student loans. Some also objected to President Obama’s proposal to transform Pell grants for low-income college students into an entitlement, so the funding would not fluctuate according to the annual congressional appropriations process.
Members questioned whether the Education Department had the capacity to originate all federally backed student loans. Some also objected to President Obama’s proposal to transform Pell grants for low-income college students into an entitlement, so the funding would not fluctuate according to the annual congressional appropriations process.
Secretary Arne Duncan testified about the proposed fiscal year 2010 budget for the Department of Education. In his testimony, he outlined th… read more
Secretary Arne Duncan testified about the proposed fiscal year 2010 budget for the Department of Education. In his testimony, he outlined the Obama administration’s plans to eliminate subsidies for private lenders who make federally guaranteed student loans. Instead, the government would make such loans directly, with banks and other financial companies merely servicing the loans.
Members questioned whether the Education Department had the capacity to originate all federally backed student loans. Some also objected to President Obama’s proposal to transform Pell grants for low-income college students into an entitlement, so the funding would not fluctuate according to the annual congressional appropriations process. close
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