Two years ago, the Administration said it shoveled out the door to student loan banks almost a billion dollars a year in corporate welfare (i.e. excess taxpayer subsidies for improperly claimed 9.5% loan subsidies), because it didn't have the authority to stop runaway claims without going through a public regulatory, negotiated rulemaking process. A month later,

Note: This post pre-dates Higher Ed Watch's shift to a new publishing system. For the complete original post, including any comments, please click here.