Maddow highlights Foxx’s desire to dismantle student loan reform
Friday, January 07, 2011 at 4:50 pm
The North Carolina Independent News reported this week on the new chair of the U.S. House Subcommittee on Higher Education, Lifelong Learning, and Competitiveness, North Carolina Republican Rep. Virginia Foxx and her priorities for the new U.S. Congress. MSNBC’s Rachel Maddow took notice and included it in a segment called, “America not getting better at being smarter,” posted below.
Some background: Foxx has received $5,000 in campaign contributions in the last few election cycles from student loan corporation Sallie Mae, an organization that used to provide federally-guaranteed loans to students until Congress passed reform of the practice in 2010, effectively cutting out the middle-man in the process. (Sallie Mae now offers private student loans.) Foxx expressed desire to hold hearings over the loan-reform bill when she assumes the chair of the subcommittee, she told The Chronicle of Higher Education this week:
Ms. Foxx has criticized legislation that ended the bank-based program for supplying federal student loans in favor of 100-percent direct lending, in which students obtain their loans from the Department of Education. She said on Tuesday that the bill “eliminated choice, competition, and innovations from student lending,” and promised hearings aimed at making “improvements to a very flawed law.”
In the clip, Maddow laid out the implications of student loan reform and why it was a “total no-brainer” in easing the deficit and allowing for more loans to students. The section on Foxx goes through the first 3:30 of the clip:
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