In its recent report the Congressional Budget Office estimated huge savings can be had by eliminating a major school-loan program:

Angry over President Obama’s budget proposal to essentially eliminate the Federal Family Education Loan program, the lenders had been hoping the CBO estimate would reveal few savings to be had from scrapping it. Instead, the CBO says that eliminating new FEEL subsidies by July 1, 2010 will save $94 billion over 10 years, which is nearly double the White House Budget Office estimate. . . . the program can [now] expect to face a harder battle in Congress for survival if the reaction of House Education and Labor Committee Chairman George Miller is any example. The California Democrat called the CBO estimate “stunning news” . . . [and] an opportunity to save taxpayers almost $100 billion.”