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Thursday, March 05, 2009

PHEAA: More Wasteful Spending Exposed

On Monday the CEO of the Pennsylvania Higher Education Foundation was fired for excessive travel expenses. Michael Hershock (former head of the PHEAA) spent thousands of taxpayer dollars on upscale hotels, like the Four Seasons in New York.

Apparently Mr. Hershock didn't take the spending reforms implemented after the PHEAA audit seriously. He even refused to resign unless the board provided him with more money. But don't worry, taxpayers will continue to contribute to Hershock's $224,000 a year pension.

Our Government on a Diet report has more on PHEAA's record of extravagant spending.

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