Feds to Take Billions from Student Loan Program to Pay for Obamacare

by College Fix Staff on July 1, 2013

Campus Reform reports on a shocking revelation from the Congressional Budget Office:

The Affordable Care Act is set to cost students enrolled in the government’s loan program $8.7 billion in extra interest over the next decade, according to a report published by the non-partisan Congressional Budget Office (CBO).

If savings were kept inside the loan program, instead of transferred to Obamacare, as some Republican senators are suggesting, they could allow the Department of Education to lower student interest rates to 5.3 percent from 6.3 percent, according to the CBO.

The nearly $9 billion being used to fund Obamacare is derived from $61 billion the government says it will save by administering student loans in-house…

Read the full story here.

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