Last fall, the Obama administration, with support of House Democrats, revealed a plan that would overhaul the way student loans were disbursed to college students. Instead of receiving loans from banks and other lenders students would, under the proposed plan, receive funds directly from the federal government. The plan would save the nation $80 billion in fees, charged by the lenders that service student loans, over ten years. The savings would then be used to increase Pell Grants to students, help forgive loans for students going into public service, assist community colleges and provide early childhood learning programs and modernize public school facilities.
Facing the possibility of losing a significant source of revenue, banks are pulling out all the stops to make sure the bill never becomes law. Lenders have spent millions of dollars in recent months holding public town-hall meetings and private meetings with legislators to make their case. Using scare tactics, they are telling lawmakers that students may default on their student loans more frequently because the counseling lenders provide would no longer be a part of the loan process. The banks say that, in the long run students and the government would be hurt if the bill was passed.
It’s interesting how these major banks – bailed out to the tune of over $700 billion in 2009 – are now, in effect bailing out on the nation’s students. Cutting out these middle man, which the banks are, does not hurt students at all. In fact, getting the money directly will reduce the amount of interest students pay over the life of the loan. Students, and the nation, will benefit as educational programs are expanded, using the savings such a change will bring. This is about money, plain and simple: lenders want to make sure this revenue stream stays alive.
Banks are in business to preserve their bottom line; not necessarily to care about the education of our student’s. As a nation, we must work to make sure their big budget lobbying efforts do not pay off. Call your federal lawmakers and let them know that federal student loans must go directly students. Ask that they cut out the middle man. The banks may have money to spend on lobbying, but we can use our voices to make a difference. You can find contact information for you legislators by visiting http://www.usa.gov/Contact/Elected.shtml.
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I had a back surgery, leaving me to enroll in college to retrain my brain. At the age of 49 , I am too young minded and a caregiver for our aging adults in this world. There are too many people becoming sick and elderly that need help. It only took me twenty months to become a Medical Assistant and I am still interested in radiology or M.R.I. technitional job careers. The banks are killing people like myself with the interests on loans for school purposes or government help such as Pell or Tap. We”ll be deaaad before we can pay back our loans, give us a break! I’m only here to help our society for cryig out loud. HOW DO YOU EVEN SURVIVE TO SURVIVE?
I have taken out student loans in the past for transportation, I purchased a 1992 SC300 in march of 2002. I went over Railroad tracks belonging to CSX that contained giant potholes, and the lower control arm broke leaving the entire weight of that portion of the vehicle resting on the 18′ New wheel and tire. After further inspection the frame and alignment shop confirmed the lower control had broke along with the frame. I was told by CSX to get the track #, estimates for the damages, along with pictures, I did, and contacted the City of Lima Ohio and P.U.C.O gave them the same information., Both identities confirmed that they had served notice on the tracks of being in need of repairs. The city served me notice to meet with me and discuss the matter then turned around and act like i was asking them for money,even though i told them that the problem was with the Rail Co. not the city. I had already tried to get attorney representation, they all seem to be afraid of corporate attorney’s and know one including the city wanted to address the problem. The city would not give me a transcript of the proceedings. I took the money from the next quarter of classes and repaired the vehicle. CSX offered me $200.00 estimates were 1,730 witnesses were on hand statute ran out but CSX still sending me conformation that they know they are at fault, The city will not return evidence thinking that they have became liable what should i do?
I have taken out student loans in the past for transportation, I purchased a 1992 SC300 in march of 2002. I went over Railroad tracks belonging to CSX that contained giant potholes, and the lower control arm broke leaving the entire weight of that portion of the vehicle resting on the 18′ New wheel and tire. After further inspection the frame and alignment shop confirmed the lower control had broke along with the frame. I was told by CSX to get the track #, estimates for the damages, along with pictures, I did, and contacted the City of Lima Ohio and P.U.C.O gave them the same information., Both identities confirmed that they had served notice on the tracks of being in need of repairs. The city served me notice to meet with me and discuss the matter then turned around and act like i was asking them for money,even though i told them that the problem was with the Rail Co. not the city. I had already tried to get attorney representation, they all seem to be afraid of corporate attorney’s and know one including the city wanted to address the problem. The city would not give me a transcript of the proceedings. I took the money from the next quarter of classes and repaired the vehicle. CSX offered me $200.00 estimates were 1,730 witnesses were on hand statute ran out but CSX still sending me conformation that they know they are at fault, The city will not return evidence thinking that they have became liable what should i do? THIS IS NOT A DUPLICATE WHY WON’T YOU TAKE THE SUBMIT ION?
I have taken out student loans in the past for transportation, I purchased a 1992 SC300 in march of 2002. I went over Railroad tracks belonging to CSX that contained giant potholes, and the lower control arm broke leaving the entire weight of that portion of the vehicle resting on the 18′ New wheel and tire. After further inspection the frame and alignment shop confirmed the lower control had broke along with the frame. I was told by CSX to get the track #, estimates for the damages, along with pictures, I did, and contacted the City of Lima Ohio and P.U.C.O gave them the same information., Both identities confirmed that they had served notice on the tracks of being in need of repairs. The city served me notice to meet with me and discuss the matter then turned around and act like i was asking them for money,even though i told them that the problem was with the Rail Co. not the city. I had already tried to get attorney representation, they all seem to be afraid of corporate attorney’s and know one including the city wanted to address the problem. The city would not give me a transcript of the proceedings. I took the money from the next quarter of classes and repaired the vehicle. CSX offered me $200.00 estimates were $1,730. I had witnesses were on hand statute ran out, but CSX are still sending me conformation that they know they are at fault, The city will not return evidence thinking that they have became liable what should i do? THIS IS NOT A DUPLICATE WHY WON’T YOU TAKE THE SUBMIT ION?
I have taken out student loans in the past for transportation, I purchased a 1992 SC300 in march of 2002. I went over Railroad tracks belonging to CSX that contained giant potholes, and the lower control arm broke leaving the entire weight of that portion of the vehicle resting on the 18′ New wheel and tire. After further inspection the frame and alignment shop confirmed the lower control had broke along with the frame. I was told by CSX to get the track #, estimates for the damages, along with pictures, I did, and contacted the City of Lima Ohio and P.U.C.O gave them the same information., Both identities confirmed that they had served notice on the tracks of being in need of repairs. The city served me notice to meet with me and discuss the matter then turned around and act like i was asking them for money,even though i told them that the problem was with the Rail Co. not the city. I had already tried to get attorney representation, they all seem to be afraid of corporate attorney’s and know one including the city wanted to address the problem. The city would not give me a transcript of the proceedings. I took the money from the next quarter of classes and repaired the vehicle. CSX offered me $200.00 estimates were $1,730. I had witnesses were on hand statute ran out, but CSX are still sending me conformation that they know they are at fault, The city will not return evidence thinking that they have became liable what should i do? THIS IS NOT A DUPLICATE WHY WON’T YOU TAKE THE SUBMIT ION? Please HELP ME