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  • Obama to Nationalize Student Lending

    1/20/2010 1:31:46 PM Posted by Roger Custer

    Our friends at cnsnews.com report that Obama is proposing a nationalization of the student lending system.  Remember what Reagan said: "The government is the problem, not the solution."  Obama believes the opposite.  Obama1

    According to their article:  "A bill currently before the Senate would empower the Obama administration to nationalize the student lending industry, eliminating the federally subsidized private loans millions of university students rely on to finance their educations.
     
    The Student Aid and Fiscal Responsibility Act – currently being considered by the Senate Health, Education, Labor, and Pensions (HELP) Committee – would eliminate the Federal Family Education Loan (FFEL) program. FFEL loans are federally subsidized and make up approximately 80 percent of the student lending industry."

    Read the rest here

    • Readers' Comments

    • this is the worst idea, if people were able to pay off the loans we might not have this problem. Bussinesses need to hire then so everyone that goes to school or finishes school can work to pay back what we have borrowed, duh
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