Student loans. You love them, you hate them. Reagan made them taxable. Bush cut pack on Pell Grants. Now, private banks jockey for every student as baldly as those credit card companies that hand out free T-shirts to freshman on Orientation day. Well, Obama and Congress are attempting to make Federal loans FEDERAL loans. What, they're not, you say? No, right now students are required to have their federal loans serviced by a private lender who will skim off some interest and then sell it back to the government within a year for a profit.
This is the dashed off letter I wrote to my congressmen. Most of y'all are out there in the working world, but if you still have student loans hanging over your heads, think about writing your congress people. I could have written it better I suppose but I felt getting it sent was more important than perfection. If you can improve on it, please do.
And with that, good night!
This is the dashed off letter I wrote to my congressmen. Most of y'all are out there in the working world, but if you still have student loans hanging over your heads, think about writing your congress people. I could have written it better I suppose but I felt getting it sent was more important than perfection. If you can improve on it, please do.
And with that, good night!
I recently heard about the bill currently under debate to eliminate private lenders from the federal student loans system. I have to say that I completely endorse this change. Please support this bill.
Last year I left the workforce to attend medical school. Since I am supporting myself, all of my tuition and living expenses come out of loans. I spent hours sifting through seemingly identical loan packages from various banks only to then wonder all year whether my choice would still be in business by the end of my studies. At the end of the year I received a letter saying they resold the loan to the US Dept of Education.
As a student, I would MUCH prefer to deal directly with the government and not undergo the uncertainties of private banking, which seems to only be in place to earn a year's worth of interest at the expense of myself and the government. This system needs to end and it can end now with your support.
