No more banks sipping profits without risk from the federal student loan system, and, as a result of the savings, more money for Pell Grants.
Change we can believe in.
Note that the Republicans were screaming about another "government takeover." Yeah, a government takeover of the FEDERAL student loan program which the government was funding -- providing the cash and guaranteeing 97 percent of any bank losses (if a student defaulted on their loan). The only private sector role was to push pencils and take the free government cash.
Put another way -- FEDERAL means GOVERNMENT.