Elections Have Consequences, Part IV

Obama has stated his intention to shut down federal subsidies to private student loan lenders and go exclusively with direct federal loans.

It should save $5 billion a year for the taxpayers and lower interest rates for students, so everyone wins....Except, of course for the private lenders, who are basically parasites anyway, so it doesn't bother me.

I believe taht he can do most of this through executive order, which is a good thing.