As heard in Obama's state of the union address, the White House is pushing Congress to introduce a bill that would end the subsidizing of private loan companies for student loans and expand a program that allows students to borrow from the government through their colleges and universities. The current system pads the pockets of private lending companies, but creates extra cost and complication for students.
The Congressional Budget Office estimated that the government could save $80 billion over the next ten years by moving to a direct loan system.
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