NAICU - Obama Student-Loan Plan May Save $40 Billion Less Than Thought

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Obama Student-Loan Plan May Save $40 Billion Less Than Thought

Bloomberg

July 28, 2009

President Barack Obama's plan to end federal subsidies to student-loan providers led by Sallie Mae may save $47 billion over 10 years instead of the $87 billion originally projected, the Congressional Budget Office said. The new projection raises questions about plans by Obama and Democratic sponsors of the legislation to spend most of the money to be saved on education programs and deficit reduction.

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