The Obama administration is set to pull in $51 billion from student loans this year, “a sum greater than the earnings of the nation’s most profitable companies and roughly equal to the combined net income of the four largest U.S. banks by assets,” The Huffington Post reports.
Since last fall, one million borrowers have had their federal student loans randomly assigned to new loan-servicing companies, all nonprofits or subsidiaries of nonprofit organizations, thanks to a little-known provision in the 2010 healthcare overhaul.
In this era of shrinking budgets, an increasing number of American public schools are closing their doors on Fridays. Besides stripping American children of one-fifth of their time available to learn, the shift is forcing working parents to seek expensive childcare while school employees see their pay reduced—or their jobs eliminated. (more)
Given that so many of the religious right’s mainstream leaders regularly spurn public assistance programs for allegedly creating government dependency, the fact that the late evangelist Jerry Falwell’s Liberty University took $445 million in federal aid last year has been turning quite a few heads in the media. (more)