The administration argued that the money that went to banks through the program would be better spent on direct federal loans to students or to Pell Grants , which provide students up to $ 5,600 . Obama pushed to expand subsidized student loans . Much of the money went into Block Grants . That amount has grown from $ 19 billion to about $ 36 billion .
Obama pushed to expand subsidized student loans . Much of the money went into Block Grants . That amount has grown from $ 19 billion to about $ 36 billion .