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>> reporter: well, i missed you as well. i almost got hit by a truck here -- >> i didnt know they had trucks back there. we were listening to the press conference earlier today with the president. it was about the budget. you were right there in the front. i want to ask you about that. the president was being asked about his cuts and the priorities in the budget. he used the expression, using a skal pep as oh possessioned to a machete. if youre one of those people seeing their taxes increased or...

Banks are getting upwards of $9 billion a year. secondly, if a student defaults, we are still responsible. so the banks, frankly, are a pass-through. so thats really the difference here, and so the federal government was already providing student loans anyway. right now some 2,300 universities are participating in the direct student loan program from the department of education, according to the obama administration up to 1,000 colleges a few years ago. so if youre a high school student, if your...