Can You imagine the Govt being the only source for Financial Aid?? It’s a little scary!
We all know the many issues that surface when you need to do business with the Government…think DMV…IRS… I can’t imagine how ugly it would be to have the Govt as the only player in town for student loans…
This is what was said by the head to FA at Yale during a discussion with Obama in 2007:
But Yale Financial Aid Director Caesar Storlazzi said the University has already scrutinized direct loan programs — the approach Obama supports — and determined that mandating them would create more problems than would continuing the system currently in place. He said the “most important thing is having a choice.”
“Students can get better deals on their student loans … through private lenders than they can get through direct loans,” Storlazzi said. “There would be groundswell of opposition if we moved to direct loans. It would be more expensive for students.”
What do you think about it?
Thats crazy, the govt is turning our county into a socialism…we all need to stand up and let them hear our voices. How can there only be 1 choice the govt for student loans, no competition, no service…no thanks…
With what the govt. is proposing all of the student loan companies of today will no longer afford to provide student loans, thus in effect the govt. is pushing them out and ending an industry. Also ACS the current servicer used by the govt. cant handle what they have today, in no way will they be able to service the masses. The quality of service one can expect should this happen will be horrendous. Also, with the govt being the only game in town their will be no competition, the interest rates on student loans will be completely at the whim of our govt. This may look good on paper with the proported savings of the subsidies, but in practice this will sure prove to be disasterous. With student loan issues being the single greatest reason why people don’t go to school I can only imagine it will only get worse for the student and thus ultimately play against Mr. Obama’s stated goal of everyone attending college.