The new student loan law that passed in reconciliation is very popular and it's excellent policy:
Since the bank-based loan program began in 1965, commercial banks like Sallie Mae and Nelnet have received guaranteed federal subsidies to lend money to students, with the government assuming nearly all the risk. Democrats have long denounced the program, saying it fattened the bottom line for banks at the expense of students and taxpayers.
“Why are we paying people to lend the government’s money and then the government guarantees the loan and the government takes back the loan?” said Representative George Miller, Democrat of California and chairman of the Education and Labor Committee.
Well, we're not anymore. The new law cuts out the for-profit lenders in the middle, freeing up billions to go to students.
The right's answer to that?
“The Democratic majority decided, well look, while we’re at it, let’s have another Washington takeover,” said Senator Lamar Alexander, Republican of Tennessee and a former federal education secretary. “Let’s take over the federal student loan program.”
Yup. "How dare the federal government take over the federal student loan program."
They really do parody themselves.