Congress needs to just get rid of this agency completely, it is hollow and dangerous to children and taxpayers. The political thugs running it should be banned for life from being near kids. Just go away.
From the Courant, Student Loan Trouble Tied To `Confusion'
Education Secretary Plans No Audit Of `Improper' Payments
By AMIT R. PALEY | Washington Post
Education Secretary Margaret Spellings has acknowledged that the federal government "had some responsibility" for "confusion" over subsidy rules that helped student loan companies reap hundreds of millions of dollars in potentially excessive payments at taxpayer expense.How do you spell bald political corruption and coverup?
But Spellings said in a recent interview that she has no plans to pursue a full accounting of the cost of what the Education Department's inspector general termed "improper" payments. They occurred in a program that guarantees lenders a 9.5 percent interest rate for certain loans even when market rates are much lower.
The department doesn't plan to seek reimbursement either, she said.