College textbooks cost so much that many students can’t afford to buy them. Tuition is increasing nationwide. And Congress has cut $12.7 billion for education programs by fixing interest rates on student loans — regardless of whether lower rates are available to corporations and other borrowers.
Here’s Bush fielding a question on that cut:
Actually, I think what we did was reform the student loan program. We are not cutting money out of it. In other words, people aren’t going to be cut off the program. We’re just making sure it works better as part of the reconciliation package I think she’s talking about? Yeah — It is a form of the program to make sure it functions better. In other words, we’re not taking people off student loans. We’re saving money in the student loan program because it’s inefficient. So I think the thing to look at is whether or not there will be fewer people getting student loans. I don’t think so.