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.
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.