THE LIE (sometimes referred to by the squeamish as "counter-factual data"):
As we improve the quality of a high school education, more and more students will graduate ready for college. Our higher education system needs to have a place for these students if they choose to continue their education. We should send students a clear message: If you work hard in school, you can go to college--regardless of how much money you or your family has. --M. Spellings in opening remarks at the first meeting of the Secretary's Commission on the Future of Higher Education
THE TRUTH (the Senate version only contains $8 billion in student loan cuts):
The House bill would cut $14.3 billion from student-loan programs at a time when college tuition and fees are increasing. It would also slash $11.4 billion from Medicaid and $4.9 billion from child support enforcement programs.
“It's the largest cut in the history of the student-aid program,” Meehan said. “That's exactly the opposite of what we should be doing.”
The bill would repeal capping the interest rates of federal student loans at 6.7 percent for students and 7.9 percent for their parents.
It would also increase loan-consolidation fees, amounting to an additional $5.5 billion in new student charges nationwide. --Lowell Sun Online