Please Tell Me This Isn’t True
When the bill passed the House, it looked very likely that it would pass the Democratic-controlled Senate. Colleges can switch from the FFEL program to DL quickly, but not instantaneously. Seeing the political handwriting on the wall, and with encouragement from the U.S. Department of Education, many colleges begin to make the switch, so they’d be ready in time for the incoming class of 2010. Meanwhile, the Senate decided to slot student loan reform for after health care, partly to focus on health care, and partly because they knew they could pass student loan reform via the budget reconciliation process, which only requires a simple majority and is thus un-filibusterable.
Then health care proceeded to drag on. And on. And on. Finally, it looks the whole thing is going to come to a decision, perhaps this week.
But time has passed since the original $87 billion cost savings estimate was calculated. So they ran the