Kennedy Outraged at 9.5% Student Loans
Senator Edward M. Kennedy, Chairman of the Health, Education, Labor and Pensions Committee, issued a great statement about the US Department of Education allowing seven Federal Family Education Program lenders to resume billing on their loans with the ridiculously high interest rates of 9.5%. Get the full quote in this edition.
Here's Kennedy's full quote on the issue according to the website AllAmericanPatriots.com:
“It’s long past time for the Department of Education to end this scandal. Auditing every lender to identify abuses of the 9.5% provision is a welcome start, but the Department should also insist that every past taxpayer dollar inappropriately paid to the abusers be repaid. I applaud the Department’s Inspector General for opening a new investigation into the 9.5% loan issue, so that the lenders can be held accountable and students and taxpayers can finally learn how much was wasted through this corrupt scheme.”
