Obama to sign new student aid initiative | Reuters Let's recap: 1.) Middlemen bankers are cut out, a federal program is now being once again run by the federal government. 2.) Student loan payments are capped at 10%. 3.) Save $68 Billion over 10 years. 4.) Expand the Federal Pell Grant Program 5.) It's approved by the majority of Americans. Now I understand the Republicans especially are complaining about governmental takeover. But how exactly can the government take over a program that is both funded and run by the government? I'm not exactly catching that logic. As someone who gets both student loans and pell grants to pay for my education, I have no problem with this. What say you USMB?