The Times (Spellings Rejects Criticism on Student Loan Scandal) and Post (Education Secretary Defends Loans Record) both take it pretty easy on Spellings, whose performance was to my view neither particularly effective or especially believable.
I think that this is in part due to the ongoing tendency in the press to take it easy on her and also because it was mostly Miller and other Dems, not Republicans, who challenged her. This is in a stark contrast to the treatment that, say, Alberto Gonzalez is getting during his Hill appearances, where it is Republicans who are ridiculing Gonzalez as much as anyone else.
You can watch a video of the testimony from yesterday here.
UPDATE: EdWeek notes Spellings' uncertainty and refusals to take strong action on the Reading First front here.
How much longer will the Congressional Republicans defend her, and when will the press get out from under the Spellings spell?