Obama hasn't magically solved private student loan debt. He removed private banks from intermediary roles, but not from the loan equation. Sallie Mae and other lenders still dispense loans onto unsuspecting, low-income students, and common consumer protections aren't extended to those borrowers. If tuition and costs keep going up, you will still end up with students needing private loans to cover their costs.
His Pell Grant increase came at the expense of graduate student loans, switching from subsidized to unsubsidized. Who would that negatively affect? People entering into teaching masters programs.
Furthermore, his efforts to curtail the for-profit sector of higher education have been completely lacking, although he's made an attempt to spin it otherwise. Our federal government spends far too much on aid for students at those "schools," and taxpayers foot the bill after those students default at significantly higher rates.
- DC Warrior 2012-05-04 08:06:24 (68 views)
- gribble the mispost master 2012-05-03 11:43:03 (82 views)
