Nelnet, a student loan company, will get to keep 278 million in subsidies deemed improper. The US Department of Education has decided if it goes after this money, it may have to ask other student loan companies to return money as well.
This, they determined, would be bad, possibly driving smaller loan companies out of business. As it happens, I'm thinking of starting a student loan company myself, and I'll be writing to request a modest 278 million startup grant some time this afternoon.
In other news, President Bush wants to tax your health insurance. Well, how else are we gonna subsidize those poor student loan companies?
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