Education loans will go with health care passing.

Discussion in 'Politics' started by exscentric, Mar 15, 2010.

  1. exscentric

    exscentric
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    This is supposely part of the health care package.

    http://online.wsj.com/article/SB123566428388983701.html

    "If approved by Congress, the plan would effectively end government-guaranteed loans to students by banks and other private lenders—lending that has totaled $56.7 billion in the current school year, and has been the primary source of college financial aid since the program was launched in the 1960s."
     
  2. billwald

    billwald
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    Someone please explain what a govt mortgage loan co (Sally Mae) has to do with student loans.

    The problem was that private loan companies and the schools were scamming the students. The schools were steering the students to a loan company and the company paid a kickback to the school.
     
  3. StefanM

    StefanM
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    This is really a non-issue. The federal government was essentially subsidizing the private lenders anyhow. It's not like this was ever a free-market scenario.
     

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