The Loophole Costing You a Billion Bucks

The Government Accountability Office (GAO) says Washington will pay nearly $1 billion of your money to student loan companies when they don't have to. The companies are taking advantage of a legal loophole -- and the Bush Education Department says their hands are tied. But the GAO says that ain't so. It reports that the Bush administration has the authority to cut off the unnecessary payments immediately -- they just haven't. (NYT)