The government already runs most elementary and secondary education, they want to take over health care, now they want to shut out private lenders for student loans?
Barack Obama Prepares to Drive Up the Costs of Education
Posted by Erick Erickson (Profile)
Monday, January 25th at 1:00PM EST
74 Comments
When Obama takes to the podium for the State of the Union, one of the things he is allegedly going to push is a wholesale federal take over of the student loan industry.
Already, his plans are causing a lot of students, particularly of private higher ed colleges and universities, problems with getting financing for education. Obama intends to shut out the usual third party lenders and put everything within the federal government — under a program that has been shown repeatedly to be highly inefficient and burdensome for academic institutions.
More troubling, by putting everything under the Department of Education, universities and colleges will be forced to adhere to federal rules, some of which conflict with the values of sectarian institutions that presently use the third party student loan system for their students.
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Click on the title to read the rest at Red State.
Does the government have to have its finger in everything? I mean, really, we have been involved with the loan program and it is a pain in the rear to begin with, but do we really need to give the government more and more control? Especially when the program they want to move everyone into has already proven to be highly inefficient? Is i just that the government wants more say in who does and does not get an education? What am I missing?
---Katie
1 comment:
Having tapped a private lender source for the completion of a student's college education, I find that the interest rate acquired was quite injurious to using that financial stream. The payment plan given, if followed, will project the payments far into the future. However, partly due to the present economy, the student hopes to pay off the debt sometime just before retirement.
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