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"With the prospect of President Obama's student-loan bill passing through the budget reconciliation bill fast approaching, Senator Lamar Alexander (Republican of Tennessee) took to the Washington Post op-ed page to tell some lies about the bill," Kevin Carey, the policy director for Education Sector, writes in the Chronicle of Higher Education. "It's not a secret that the government will be lending money for more than that money costs. All lending programs work this way. The difference is that currently the money left over after paying people to administer the program is used to line the pockets of bank shareholders and executives whereas under Obama's plan it will be used for Pell grants that benefit low-income students."