$12.7 Billion in "Efficiencies"

Bush bringing his light to the subject of $12.7 billion in cuts to student assistance. From the Washington Post:

A sophomore asked why officials were cutting student aid by $12.7 billion. "How's that supposed to help our futures?" she asked. Bush seemed perplexed and asked if she meant federal money. "What we did is reform the student loan program," he said. "We're not cutting money out of it. . . . We're not taking people off student loans, we're saving money in the student loan program, because it's inefficient."