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Almost everyone agrees that the student loan reform is a good thing. Even though there will be jobs lost that is a side effect of efficiency and cost cutting. There was no reason to subsidize private lenders, it was just gravy we can no longer afford.
President Obama instead pushed for the Education Department, which already provides student assistance, to grant all federally backed loans. To get rid of the middlemen, in other words.
The result: Billions of dollars in subsidies to private lenders saved, more than $60 billion over the next decade. It’s the biggest change in the government’s efforts to help students pay for college since they began decades ago.
With my oldest daughter about to enter college, from everything I've read this is a plus... my daughter just got her financial aid package and with scholarships she only has to take out 2k in loans next year, but still, the better the terms, the less of a burden this will be in the end.
I remember reading something about a proposal that students graduating in a "green" field will be given a reduction in the amount they have to repay of their federal student loan. Is anyone familiar with this? Or know if this is part of this bill or separate or where additional information can be found? TIA
About time this cute little subsudy was eliminated. Most of the aid should be in the form of grants not loans. Now to start controlling the prices of text books. The publishers have abused their monopoly for far too long.
Almost everyone agrees that the student loan reform is a good thing. Even though there will be jobs lost that is a side effect of efficiency and cost cutting. There was no reason to subsidize private lenders, it was just gravy we can no longer afford.
who is this everyone? if students default on debt because they can't find jobs in a shrinking job market, with an administration that is promoting illegal immigration, then the taxpayers and the rest of americans have to eat the losses under the government program.
NO THANK YOU.
americans are saddled with enough government debt.
About time this cute little subsudy was eliminated. Most of the aid should be in the form of grants not loans. Now to start controlling the prices of text books. The publishers have abused their monopoly for far too long.
Are you advocating price controls for a private product? Why not attend a university where professors do not select expensive textbooks for 101 courses?
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