osmoothie – school

Obama to nationalize student lending with pending budget bill

CNSNews, “Obama to Nationalize Student Lending with Pending Budget Bill”
by Matt Cover

A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations.

The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL) program. FFEL loans are federally subsidized and make up approximately 80 percent of the student lending industry.

According to the Department of Education, 14.3 million of the 17.5 million student loans were federally subsidized for the 2009-2010 fiscal year. Under Obama’s plan, the government would consume the entirety of this industry – a total of $103 billion in 2009-2010.

CNSNews article continues here.

U.S. Secretary of Education has no professional classroom teaching experience

CNSNews, “U.S. Secretary of Education Has No Professional Classroom Teaching Experience”
by Edwin Mora

U.S. Education Secretary Arne Duncan, who oversees a federal agency that spent $134.8 billion in fiscal 2009, tutored kids as a young student but has never professionally taught inside a classroom.

Duncan’s experience in education includes time as the administrator of a nonprofit school and as head of the Chicago public school system, according to Education Department press secretary Justin Hamilton.

“Arne Duncan has experience running a nonprofit school for the Ariel Foundation and then moved into administration at the Chicago public school system and was the longest serving head of the Chicago public school system for seven years before he became secretary of education,” Hamilton told CNSNews.com.

CNSNews article continues here.