Recent Event Highlights: Prosecutors Seek Entry to Seton Hall's Public Interest Loan Assistance Program - The National Law Journal, Opinions mixed on new student loan law - Clovis News Journal, Student loan reform badly needed - Baltimore Sun, Five Hidden Costs of Health Care: What the Government Doesn't Want You to Know - Huffington Post (blog), Student loan shift could cost jobs - Standard Speaker, Health Bill Includes Student Loan, and 105 more...
Created by dipity on Jul 1, 2009
Last updated: 03/08/11 at 06:17 PM
New Student Loan Laws has no followers yet. Be the first one to follow.
Prosecutors Seek Entry to Seton Hall's Public Interest Loan Assistance ProgramThe National Law JournalSeton Hall's law school, like many others, has a program that helps graduates who go into public service jobs to repay their student loans, but unlike a lot ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.law.com%2Fjsp%2Farticle.jsp%3Fid%3D1202447465402%26Prosecutors_Seek_Entry_to_Seton_Halls_Public_Interest_Loan_Assistance_Program&usg=AFQjCNEw2qAMIXSQLCFq9S5nWrs-AwqN2w
The Week MagazineOpinions mixed on new student loan lawClovis News JournalThe law, tacked on to the health care bill, eliminates a $60 billion program that supports private student loans with federal subsidies and replaces it with ...New law strips student loans from banksPioneer OnlineMajor Student Loan Legislation changed when Obama passed Health Care Bill ...iSlate News (press release)Student loan changes to have minimal effect on CSI studentsKMVTSalt Lake Tribune -Wesleyan Argus -Billings Gazetteall 65 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.cnjonline.com%2Fnews%2Flaw-37776-student-new.html&usg=AFQjCNHIjMuIM5F31ldYl16BIN4aTubZcg
Ozarks FirstNew Legislation Means Boost in Pell GrantsWNYC"One of the things we've been seeing more and more is the burden for paying for college is being done on the backs of students, in terms of student loans or ...US Sen. Harkin: In Iowa's interest: New legislation increases college ...IowaPolitics.com (press release)Law steers more money to studentsRockford Register StarRead a fact sheet on how the Health Care and Education Reconciliation Act of ...MyNews4Chicago Defender -Ozarks First -HollandSentinel.comall 61 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.wnyc.org%2Fnews%2Farticles%2F152927&usg=AFQjCNH_pDBZ1_BWdqGmandpKKDTtvjbMw
Student loan reform badly neededBaltimore SunAfter I began working in an inner city, I was then informed that such a program no longer exitsted. Please support student loan reform.and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.baltimoresun.com%2Fnews%2Fopinion%2Freadersrespond%2Fbs-readers-respond-student-loans-20100402%2C0%2C2994911.story&usg=AFQjCNFPOz9nVgWcn9uzHb51tRYAkVuO1g
XinhuaFive Hidden Costs of Health Care: What the Government Doesn't Want You to KnowHuffington Post (blog)If realistic assumptions were used for those two items, then the law clearly does not reduce the deficit. The government takeover of student loan processing ...Spotlight: Health care law does more harm than goodBowling Green Daily NewsMore bang for your billOregon Daily EmeraldEDITORIAL: Obamacare's legislative dysfunctionsWashington TimesNewsHour (blog) -Politics Daily (blog) -Politicoall 2,891 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.huffingtonpost.com%2Fgary-shapiro%2Ffive-hidden-costs-of-heal_b_523013.html&usg=AFQjCNELROOqlyd7cWTyZwFFhWpCWRO1wA
LoanSafeStudent loan shift could cost jobsStandard SpeakerHowever, local economic developers and elected officials say Sallie Mae will continue to have a major role to play in the new student loan system. ...Sallie Mae Blames 2500 Layoffs on Obama's Student Loan OverhaulFOXNewsSoliman: Good news for students seeking loansNorthJersey.comFinancial Aid Options When the Award Letter Arrives: Tips for College-Bound ...MarketWatch (press release)Kokomo Perspective -Southern Pines Pilot -Habledash (satire) (blog)all 119 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fstandardspeaker.com%2Fnews%2Fstudent-loan-shift-could-cost-jobs-1.711416&usg=AFQjCNF0oKS0T3G8fZ5w__QDUbtp7o-cfQ
April 1, 2010 (2:20) Changes in student loan laws are just now drawing the media's attention and reactions are mixed.
ReutersNew Student Loan Law Changes EconomyAssociated ContentThe new law for student loan signed by President Obama will bring many drastic changes to both the government expenditure and the banking sector. ...New Student Loan Law Affects Banks and StudentsKFSMNew student loan rulesWKOW-TV.comGovernment Student Loan Law – Will I Get a Lower Interest Rates on My Loans?Subprime Blogger (blog)Richland Chronicle -USA Today -New York Timesall 1,355 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.associatedcontent.com%2Farticle%2F2844350%2Fnew_student_loan_law_changes_economy.html&usg=AFQjCNHoQfeGO_St3P7_n8D35ldj0FuxgA
New Student Loan Legislation Seeks To Afford More Students Higher EducationWFMY News 2Now Hall and other college bound seniors at Thomasville High School are learning from their counselor about new student loan legislation. ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.digtriad.com%2Fnews%2Feducation%2Farticle.aspx%3Fstoryid%3D139787%26catid%3D165&usg=AFQjCNH-GqkspSAmIXSHJyfAbk7JBuligg
School Official Explains New Student Loan LawMy Fox 8WINSTON-SALEM, NC - New student loan laws will make the federal government the main source of education funding for college ...
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.myfox8.com%2Fwghp-new-student-loans-100331%2C0%2C2270588.story&usg=AFQjCNHEWeCuW8V_-4YBYz6dTKdTYwZEpA
President Obama signed into law student loan reform which cuts commercial banks from the student loan equation in addition to many other higher education reforms in the United States. Check out the reform: www.whitehouse.gov Keep The Conversation going on Facebook tinyurl.com Follow our Tweets for new videos twitter.com Background image can be found here: www.flickr.com With permission under creative commons license: creativecommons.org
President Obama strips banks of their role as middlemen in federal student loans and puts the government in charge. The President Obama said that change would save more than $60 billion over the next 10 years, which in turn would be used to boost Pell Grants for students and reinvest in community colleges. www.torturingdemocracy.org
President Obama strips banks of their role as middlemen in federal student loans and puts the government in charge. The President Obama said that change would save more than $60 billion over the next 10 years, which in turn would be used to boost Pell Grants for students and reinvest in community colleges. www.torturingdemocracy.org
KAREStudent loan law clips local firm hit by data theftMinneapolis Star TribuneMuch of that activity will be taken over by the government, which will back its own student loans. While the Oakdale-based nonprofit company can't issue new ...Data Theft Hits 3.3 Million BorrowersWall Street JournalMassive ID Theft affects 3.3M Student Loan BorrowersInfopackets (blog)Company Says 3.3 Million Student Loan Records StolenPC WorldMinnesota Daily -SC Magazine US -Inside Higher Edall 431 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.startribune.com%2Fpolitics%2Fnational%2F89566342.html%3Felr%3DKArksi8cyaiUHK%3AuUiD3aPc%3A_Yyc%3AaUU&usg=AFQjCNGCa4qOLHRAsfBl1JFwvxYoYkuIkQ
Finalizing two major pieces of his agenda, President Barack Obama on Tuesday wrapped up his health care overhaul and turned the government into the primary lender of federal student loans by stripping private banks out of the process. (March 30)
Remember when Obama said he wanted a national security force? Not the national guard, but a civilian one that has not sworn to uphold the Constitution? On July 2, 2008 in a speech in Colorado Springs, Barack Obama called for a police state. Obama just got his private army And no one seems to have noticed. It is buried in the Senate revisions to the health care bill. Subtitle cincreasing the Supply of the Health Care Workforce Sec. 5201. Federally supported student loan funds. Sec. 5202. Nursing student loan program. Sec. 5203. Health care workforce loan repayment programs. Sec. 5204. Public health workforce recruitment and retention programs. Sec. 5205. Allied health workforce recruitment and retention programs. Sec. 5206. Grants for State and local programs. Sec. 5207. Funding for National Health Service Corps. Sec. 5208. Nurse-managed health clinics. Sec. 5209. Elimination of cap on commissioned corps. Sec. 5210. Establishing a Ready Reserve Corps. Subtitle denhancing Health Care Workforce Education and Training See the Patient Protection Affordable Care Act, page 1312: SEC. 5210. ESTABLISHING A READY RESERVE CORPS. Section 203 of the Public Health Service Act (42 USC 204) is amended to read as follows: SEC. 203. COMMISSIONED CORPS AND READY RESERVE CORPS. (a) ESTABLISHMENT (1) IN GENERAL.here shall be in the Service a commissioned Regular Corps and a Ready Reserve Corps for service in time of national emergency. (2) REQUIREMENT.All commissioned officers shall be ...
The President looks back on a week that saw the passage of two major sets of reforms: one putting Americans in control of their own health care, and one ensuring student loans work for students and families, not as subsidies for bankers and middlemen.
The American public did not want Obamacare. Although we voiced our opinions at townhall meetings, wrote to our representatives, and protested.... our representatives ignored us. The entire process leading up to the passage of the bill was veiled in secrecy. Obama promised that his administration would be nothing but transparent, and yet we continuously saw closed door meetings and votes bought with sweetheart deals. Some of your freedoms were sacrificed upon the passage of this bill. Will you fight to regain these freedoms? DEMAND nullification in your state NOW. "Barack Obama has taken over 32% of the US economy thus far. If Healthcare passes (18% of economy), Obama will have taken ownership and control of approx. 50% of the private sector economy (Freddie Mac, Fannie Mae, multiple banks, Chrysler, General Motors, AIG, student loan industry, Healthcare infrastructure). We would then be under more government control (50%) than most of the European Socialist countries." -Michele Bachmann
Tonight, the House voted 220 to 207 to pass the revised Health Care and Education Reconciliation Act that the Senate passed this afternoon. The bill will now go to the President to be signed into law.
Tonight, the House voted 220 to 207 to pass the revised Health Care and Education Reconciliation Act that the Senate passed this afternoon. The bill will now go to the President to be signed into law.
March 24 (Bloomberg) -- Michael Taiano, an analyst with Sandler O'Neill, talks with Bloomberg's Margaret Brennan about the impact of legislation overhauling student lending on companies like SLM Corp., known as Sallie Mae, banks and nonprofit lenders. Under the plan attached to the health-care bill and passed by the House of Representatives, a $60 billion federal program that subsidizes private student loans would end and the loans would be made directly by the government. The House amendments now go to the Senate. (Source: Bloomberg)
Salie Mae CFO Jack Remondi argues the health-care bill will cause thousands of job losses throughout the student loan industry.
READ ABOUT THE FRENCH EXPERIMENT HERE: news.softpedia.com Thom Hartmann Weighs In On Teabaggers' Scorn and Disrespect For Man With Parkinson's Disease www.thethinkingblue.com --- I stumbled upon the Thom Hartmann Show on Free Speech TV a few months back. Since I had heard of Mr. Hartmann on Air America but really never tuned in I allowed this channel to remain for awhile so I could see what Thom had to say. Ive been hooked ever since. Not in the sense that the followers of Glenn Beck and Rush Limbaugh are HOOKED by: Blind Ignorance and Hate Filled Bigotry; Im captivated by Thom Hartmanns ideas and beliefs because of my desire for knowledge. This man has so much knowledge you have to wonder how he can retain it all. He takes phone calls then supports the callers questions or statements with his voluminous experience and perception. Many times he will get a question or suggestion and you can almost see the wheels go to work inside his head, admitting he may not know too much on the subject but will look into it. Hes also not afraid to admit hes wrong unlike the hate mongers on the right. The Becks and Limbaughs (et al) are so sure they know it ALL, they would never back down or act human with a simple I have no knowledge of that, or maybe a I will research that Not these right-wing-nuts, Its always I KNOW and YOU DONT! jingle all the way. If the right-winded jerks on the right just played their audience (for their listening and viewing pleasure) and that was all there was ...
Because You Asked: Why is student loan legislation in health care reform?
March 15, 2010 (2:00) Democrats attach student aid legislation to health care bill in hopes of winning a simple majority in a tactic known as reconciliation.
John McCain Returns To New Hampshire, Bashes Healthcare Bill - Video and QuotesGather.comAnother question focused on the possibility that Democrats might try to tack proposals aimed at reducing private banks involvement in the student loan ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.gather.com%2FviewArticle.action%3FarticleId%3D281474978101785%26grpId%3D3659174697241980&usg=AFQjCNE6r8hFCiR65WA-HqPslg_1DrV6Eg
New England Editorial RoundupWBZNHHEAF could well continue to service loans under the new law, which has a provision designed to ensure that small-state, nonprofit lenders like NHHEAF can ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwbztv.com%2Fwireapnewsma%2FNew.England.editorial.2.1558945.html&usg=AFQjCNE21zemVkP9Y7Paxn4WyQnwDHhJQQ
Kansas City StarUS-POLITICS SummaryWashington PostWASHINGTON (Reuters) - President Barack Obama's stalled bid to overhaul the federal student loan program by cutting subsidies to private lenders and ...Obama Delays Asia Trip To Press For Health Care BillNPRall 715 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2010%2F03%2F13%2FAR2010031300693.html&usg=AFQjCNF3eneGqNMwWdUcrnYJ5qSTqNwrsQ
89.3 KPCCStudent loans included...New charge in Haiti...Stocks mixed9&10 NewsDemocrats have decided to include some changes in student loan programs, so that the government, rather than private lenders, would originate loans. ...McConnell says student aid plan is a bad idea10 Connectsall 16 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.9and10news.com%2FCategory%2FStory%2F%3Fid%3D212974%26cID%3D3&usg=AFQjCNGmhVLJqYcKLC2CpzKJMFvUTIxhng
New York Times (blog)Nelson's Support May Depend on Student Loan ChangesNew York Times (blog)But now that Democrats are planning to include an overhaul of student loan programs in the expedited budget package along with the final health care ...and more »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fprescriptions.blogs.nytimes.com%2F2010%2F03%2F12%2Fnelsons-support-may-depend-on-student-loan-changes%2F&usg=AFQjCNFJAAK44FK2SBXMt8C1wdWtvuLvkg
Common Dreams (press release)New funding projection could squeeze Obama's education agendaWashington PostThere is some debate over which estimate for the student-loan bill should apply. But congressional and administration insiders say it appears virtually ...Democrats to Student Loan Reform: Drop DeadRolling StonePell Grant Increase Could Be Cut as Talks Intensify on Student-Aid BillChronicle of Higher Education (subscription)Senate About-Face Puts Student Lending in LimboFinancial-Planning.comInside Higher Ed -True/Slant -RedState (blog)all 52 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2010%2F03%2F12%2FAR2010031202413.html&usg=AFQjCNGzhYcUHZbsU_HQABw_AvJAd0W0xw
Student Loan Bill Opposed by Group Packed With Ex-Clinton AidesNew York Times (blog)In a recent letter to the editor in The New York Times, Ms. Gorelick wrote, “I agreed to help Sallie Mae advocate for a compromise that reflects centrist ...What's That Word for People Who Will Do Anything for Money?The Washington Independentall 3 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fthecaucus.blogs.nytimes.com%2F2010%2F03%2F12%2Fstudent-loan-bill-opposed-by-group-packed-with-ex-clinton-aides%2F&usg=AFQjCNGjyCEGLmV8xXrDkAQtHT-s8bqsjA
9&10 NewsPelosi's confidence...Student loan changes...More explosions9&10 NewsWASHINGTON (AP) — It looks like a second priority of the Obama administration -- sweeping changes in the student loan industry -- will be added to the ...Final push...Reid's wife recovering...Anger with Israel9&10 Newsall 12 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.9and10news.com%2FCategory%2FStory%2F%3Fid%3D212886%26cID%3D3&usg=AFQjCNF2kDsjytejE6QDCx91EDUcH48IvA
ReutersDeal Gives New Life to Overhaul of Student LoansNew York TimesUnder current law, Congress must determine any increases. “Families and students who rely on federal student aid need to know that Congress sides with them ...Ax would fall on college graduation initiative in healthcare bill mergerThe HillStudent Loan Overhaul To Be Combined With Healthcare LegislationCity Town Info Education ChannelStudent loans may be cut in health pairingUPI.comFOXNews (blog) -ModernHealthcare.com -The Associated Pressall 2,445 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.nytimes.com%2F2010%2F03%2F12%2Fus%2Fpolitics%2F12loans.html%3Fsrc%3Dme&usg=AFQjCNFlbQE7bT2jHei1b4yQG5q8EAxl7A
ReutersKey senators balk at adding student loan overhaul to health-care legislationWashington Postbut reached no decision on the student loan measure. One participant said a consensus appeared to be emerging that it would be unwise to risk the ...Student Loan Reform: What's It Doing in the Health Care Debate?CBS NewsHealth and Student-Loan Bills ClashWall Street JournalKey Senate Democrats Balk at Combining Student-Loan and Health-Care BillsChronicle of Higher Education (subscription) (blog)CNN Political Ticker (blog) -Talk Radio News Service -Daily Athenaeumall 2,711 news articles »
http://news.google.com/news/url?fd=R&sa=T&url=http%3A%2F%2Fwww.washingtonpost.com%2Fwp-dyn%2Fcontent%2Farticle%2F2010%2F03%2F10%2FAR2010031003934.html%3Fhpid%3Dtopnews&usg=AFQjCNHFxp9xIWY1flWUHPluKLBNoD-XRA
White House Domestic Policy Director Melody Barnes and Education Secretary Arne Duncan take your questions about how new legislation can help make college more affordable for all students. March 2, 2010.
After devoting a decade of her life to volunteering at homeless shelters, soup kitchens, and libraries, Lewis & Clark law student Ginger Beck realized that practicing public interest law was the best possible expression of her commitment to community service. Toward that goal, Beck spent her summer researching legal cases for the Oregon Law Center (OLC), an organization that provides free civil legal services to low-income individuals and families. Becks summer internship with the OLC was made possible by a $4500 stipend from the law schools Public Interest Law Project, known as PILP. Through the summer program, students gain valuable experience while providing public interest organizations with much-needed legal assistance. In addition to supporting summer projects, PILP funds are also allocated to the Loan Repayment Assistance Program, which helps public interest lawyers repay law school loans after graduation
President Obama outlines new steps to better prepare Americas children for college and the workplace at a meeting with the National Governors Association . The President is calling for a redesigned Elementary and Secondary Education Act that includes a comprehensive, new vision to help states successfully transition to and implement college- and career-ready standards by improving teacher preparation and development, upgrading classroom instruction, and supporting high-quality assessments.
So this is one Pioneers ipod speaker system and just by using it for a couple of weeks i am throughly impressed. The audio is very crisp and deep. No muddy audio what so ever! Another great thing about this system is that it supports bluetooth audio without audio loss (although some audiophiles may notice this). The range is pretty far as well ehen using an iphone. I managed to still transmit audio on the forth floor of the house. Although this will empty your wallet a little i really do believe you do get what you pay for in this dock. Fantastic features, great functionality and simply it does what it says on the tin! Facebook - www.facebook.com/mitch625 Twitter - www.twitter.com/darryltv
Louisiana Hometown Network : After more than 50 years, Southern University New Orleans now has its first ever student and faculty housing complex. The apartment-style complex is located on the University's Lake Campus and is in its first phase of completion. Students began moving into their units on January 4 while completion is expected in August of 2010. A $44 million dollar loan from the Department of Educations Historically Black College and University (HBCU) Capital Financing Program financed the complex. The 2006 Emergency Supplemental Appropriations Act authorized the funds for Hurricane Recovery, legislation championed by Senator Mary Landrieu.
Is there a way to get your name off a loan that you have co-signed. Origanal Air Date: Sunday February 7, 2010. Listen to Brian Dailey on The Law Show live every Sunday at 2:00 pm (eastern) at www.thelawshow.com
Extending the Ensuring Continued Access to Student Loans Act (ECASLA) will provide liquidity in the student loan market. Can Democrats and Republicans support this approach? They already have. ECASLA passed last year with overwhelming bipartisan support.
(Medill News Service for mcclatchy Newspapers) WASHINGTON — Jeana Harbison drives a 1995 Toyota Camry. But upgrading is on hold for now, because the 27-year-old law school graduate owes almost $139000 in student loans. I went and I didnt really think about the aftermath, said Harbison, who said going to law school and becoming an attorney was her lifelong dream. I just knew I had to take this money out to go.
Some students will be able to waive or reduce loan payments. Howard Dvorkin, founder of Consolidated Credit (www.consolidatedcredit.org) discusses changes to student loans and whos going to benefit from this new legislation on the South Florida Morning Show.
In Chapter 2 of 9, Julia Green reflects on her Georgetown Law School experience. While there, Gatto remembers sharing an uncertainty toward career and purpose with her classmates and peers. Hiring companies present lucrative opportunities and students, unfamiliar about goals with career planning, accepting them not seeing alternative opportunities, especially given student loan obligations. Green highlights the benefit attending law school immediately upon college graduation, namely having a law degree by age 25. She also highlights the recruiting dichotomy between corporate law and public interest law and the necessary initiative required to push beyond the corporate recruiting marketing and promotion and into exploring public interest opportunities. View more at www.captureyourflag.com
During the Health Care Bill General Debate in the US House of Representatives, Louise Slaughter (D, NY) addresses concerns over a clause that would grant loan forgiveness to veterinary students. November 7, 2009
ITV Anglia News 21st10th09 Couple that have had gastric bypass Fat Removal Surgery Ipswich Student Loan Drama Essex Chelmsford Shop displays ransacked by pro fox hunters. National Express East Anglia providing more seats on trains. Firework warnings from police. Sports Football Ipswich Town Carlos Edwards. Suffolk Drinkstone Legal Victory to end Woolpit Whiff.
Today Karen Hanretty sat down with Zach Howell, President of the College Republican National Committee. Howell discussed the impending student loan legislation HR 3221. He notes the loss of choice, competition and wide-scale loss of jobs which could occur and what it means for students and universities across the country.
Today Qorvis Karen Hanretty sat down with Zach Howell, President of the College Republican National Committee. Howell discussed the impending student loan legislation HR 3221. He notes the loss of choice, competition and wide-scale loss of jobs which could occur and what it means for students and universities across the country.
On September 17, 2009 the House passed HR 3221, The Student Aid and Fiscal Responsibility Act. This bill will transform the way student loan programs operate by boosting federal loan rates across the board, including a $40 billion increase in the PELL Grant Scholarship program. It will keep interest rates low and make loan application forms simpler to understand and complete, doing away with the cumbersome paperwork that now makes applying for aid such a daunting task. The measures included in the Student Aid and Fiscal Responsibility Act that will allow more students in Upstate New York to receive a higher education And will save taxpayers $87 billion over ten years by switching to the cheaper Direct Loan program, according to the Congressional Budget Office. In addition to investing in college aid, this legislation will also direct $10 billion in savings back to the US Treasury to help pay down the deficit.
Update Sources