The Guardian UK printed the AP story--I think the internationalization is noteworthy.
Miller brought up the Nelnet overpayments on the 9.5% loophole. Spellings said she settled to avoid a costly lawsuit. Washington Post: "The Justice Department is reviewing an audit that found hundreds of millions of dollars have been improperly paid to a student loan company, House Education Committee Chairman George Miller said Thursday.Miller, D-Calif., made the review public during a hearing in which he pressed Education Secretary Margaret Spellings on her decision to ignore a recommendation by her department's inspector general, John Higgins, to recover an estimated $278 million. "
NPR has audio. The reporter seemed impressed with Spellings' offense-as-defense. Suddenly everyone's a student loan reformer I guess.
More at Huffington Post.: Lies Under Oath.
Subscribe to:
Post Comments (Atom)
1 comment:
Over at CollegeLoanSearch we're a frequent commenter and observer of the student loan industry.
We couldn't help but notice during the testimony that Ms. Spelling completely avoided accepting responsibility and accountiblity of the issues with oversight of the student loan program. Instead she kept pointing out that the Department does everything within it's legislative powers to regulate and police the industry....in other words, the Dept of ED needs an overhaul to provide her those powers.
We have observed no initiatives on the part of the Dept of Ed to substantiate those claims. It seems that Ms. Spellings my have testified herself out of a job!
Post a Comment