Summary
AL LORD is a rich man. As head of SLM Corp., he made $255 million in five years. He's now building his own private golf course in a Washington, D.C., suburb -. and to think he did it off a federal program that's supposed to help low-income students borrow money. Ahhhhh. The Bush years.
We again shield our eyes at a furtive coupling of private business and public money. The federal student-loan program offers a virtual primer on how to get obscenely rich in today's Washington:See the full content of this document
Extract
Loan System Shortchanges Students
First, let private companies scoop the profits, while making taxpayers assume all the risks. Under the program, the government guarantees against bad loans and unwa...
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