Education Error Message

President Obama has put the government in charge of student loans, but it appears that the federal IT system isn't quite prepared to handle that responsibility.

As the Washington Times reported today, www.studentloans.gov, the Web portal used to manage financial aid, showed visitors an error message on both Monday and Tuesday.

Officials have acknowledged the error but have not identified the specific problem with the site, according to the article. In addition, critics of the legislation point to the technology breakdown as a sign that the government isn't equipped to manage the program.

Obama on Tuesday signed the Health Care and Education Reconciliation Act, which includes provisions to reform student lending. The Times reports that, instead of relying on banks, the federal government will lend the money itself at a fixed interest rate of 6.8 percent and will soften repayment terms for students who keep up payments after graduation.