McDonnell asks Obama to reconsider student loan proposal
Gov. Bob McDonnell penned a letter to President Barack Obama this week urging him to reconsider his proposed changes to the student loan program that the governor says could cost "hundreds of jobs" in Virginia.
McDonnell (R) says the proposal will impose unfunded federal mandates on public and private colleges and universities, eliminate jobs and "result in disruptions in the delivery of critical funding for students in the fall of 2010."
Obama has proposed ending private industry involvement in new student loans. Instead, the federal government would be the sole provider of student loans in the United States.
We hear the letter was sent to help Reston-based Sallie Mae, which is trying to bring more than 1,000 more jobs to Virginia and that U.S. Sens. Jim Webb and Mark Warner are also on board.
The U.S. House approved a bill implementing the president's plan, but it has yet to pass the Senate. A day after McDonnell sent the letter, Obama mentioned the legislation in his State of the Union address.
Read a copy of McDonnell's letter here.
January 30, 2010; 6:15 PM ET
Categories: Anita Kumar , Barack Obama , James Webb , Mark Warner , Robert F. McDonnell
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