Purdue president says student loan bailout is ‘flagrantly illegal’

The president cannot create a bailout on his own, Mitch Daniels says

Purdue University’s president called a potential executive action student loan bailout “flagrantly illegal.”

Mitch Daniels, a former George W. Bush administration official, now leads the Big Ten university.

WATCH:

MORE: Student loan bailout discourages work, business owner says

IMAGE: CNBC