The Problem of Politics

In terms of promises to higher ed the Dems are already finding out how difficult it is to lead in politics. Apparently the pressure isn’t from the Republicans, but the industry. Democrats’ plan to slash the interest rate for student loans draws criticism from unlikely sources

In the run-up to the Congressional elections last fall, one of the top campaign promises made by leaders of the Democratic Party was to halve the interest rate on federal student loans. But now that the Democrats have taken control of Congress, they may find it more difficult than they expected to fulfill their pledge. (for subscribers)

(Via – Today’s News.)

For a non-subscriber link, see Inside Higher Ed. From their story:

But some college officials said they worried that the plan might end up helping even fewer students, once all the details of the proposal spill out. On Thursday, Democratic officials provided few specifics about the proposal, most notably providing no information about how they planned to pay for the cut. (Among the other changes that Democrats have promised in the 110th is to strictly enforce rules that require all legislation that costs money to include offsetting savings.) House aides said the decision about how to pay for the rate cut would be made by the party’s Congressional leaders.

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