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Obama Chooses Students Over Banks

May 13, 2009 - 9:25 am By COED Staff

INDEX Say you’ve got a few billion dollars burning a hole in your pocket and you can give it either to bankers or needy college students. Whom do you choose? This is not a trick question.

Confronted with that choice, Washington has for years given money to banks in subsidies and guarantees to encourage them to provide college student loans. But now, President Barack Obama wants to cut out the middlemen and loan the money directly to students.

Congress should make that happen. With the cost of a college education soaring and the economy sinking, students and their families could sure use the money. And it wouldn’t cost taxpayers an additional dime.

Read all about the plan here!

5 Comments		Posted in Blotter, College
		Tags: College Loan, obama, President Barack Obama, student loan

Clint says:

May 13, 2009 at 12:26 pm

Yeah, and all it does it further make you subservient to anything the government wants of you including forced peace corps service or whatever they may choose while further weakening the private sector of business in an already crappy economy. Ever heard of grants? Look past this guy’s rhetoric to what’s really going on.
Shannon says:

May 13, 2009 at 11:24 pm

Before you make a decision on cutting banks out of the picture please ask where the cost savings is coming from. I have done the homework and it is funny money. Also, as soon as the government increases the Pell Grant schools raise tuition and suck it up.

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