Bush seeks cuts for Sallie Mae, other student lenders (Reuters/CNN)

[eppur_se_muova]

WASHINGTON (Reuters) -- The Bush administration Monday proposed cutting subsidies and fees collected by institutions that make college loans, sending sector leader Sallie Mae's stock price reeling.

The lender's shares were down 8.7 percent on the New York Stock Exchange at $42.40 by midday.

"The cuts proposed today by the president to the private-sector student lending program, which currently serves 80 percent of all student borrowers, would have far-reaching consequences for students and taxpayers," Sallie Mae, formally known as SLM Corp., said in a statement.
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more: http://www.cnn.com/2007/EDUCATION/02/05/budget.student.aid.reut/index.html

Wow, what's he want from the voters for THIS bribe?

ON EDIT: Brain fart here -- he's cutting subsidies, not rates, which is what the Dems promised. So it's not a bribe, it's a cutoff.

[SpiralHawk]

1. "We need that money for our republicon cronies." - Commander AWOL

"So all you students can just shup up and sit down." - Commander AWOL

[whistle]

2. Bush kills two birds with one stone, cuts Federal student loan subsidies

....and throws students who are financially strapped out into the streets where they can be recruited into the military to fight and die in Bush's wars

[confludemocrat]

3. One way to channel the young into the military for future adventures

is to cut off as many alternatives to that as possible. One reason why they are always against raising the minimum wage.

[Captain Hilts]

4. Too much financial aid and poor kids won't join the military. nt

[ryanmuegge]

5. This would have to be approved by Congress, am I correct?

If so, this probably won't happen.

[mikelgb]

6. FUCK

I have > $50,000 still outstanding with Sallie Mae

[MissMillie]

7. Is this the education president talking?

:mad: