Posted by: cslfconnects | April 30, 2009

Health Care’s Test Drive: Student Aid

Health Care’s Test Drive: Student Aid


only_common_sense

By INVESTOR’S BUSINESS DAILY | Posted Tuesday, April 28, 2009 4:20 PM PT

College Loans:

President Obama says pushing private lenders out of the student-aid program would eliminate middlemen and save money. It’s a seductive argument. Expect to hear it on health care as well.

The president has a deal for you, the taxpayer: Take the current public-private student loan program and turn over the whole thing to the government. The result? Instant savings.

Gone would be the subsidies that, we’re told, now go straight into the pockets of private-sector lenders rather than to deserving students. The administration says it could save at least $48 billion over the next 10 years in this way.

As the president explained things last week, “We’re giving lenders billions of dollars in wasteful subsidies that could be used to make college affordable for all Americans.” It sounds so obvious that we have to wonder why anyone would have set up such a stupid system in the first place. Read More…

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