Today, three more papers followed the New York Times, coming out in support of the President’s plan to end the FFELP program for student lending and save taxpayers $94 billion:
“The purpose of student loans is to ensure that academically qualified students have access to higher education, not to subsidize private lenders with taxpayer money. Congress should jump at this chance to use billions of dollars in savings to increase federal educational grants.”
“Just who is supposed to be the beneficiary of federal financial aid for college, anyway? By ending unnecessary subsidies to private lenders, Americans get reduced costs and students get more direct aid – a win-win solution.”
“The move to restructure the student loan business is not just about banks and jobs. It’s about education and students who generally don’t have high-priced lobbyists looking out for their interests in Washington.”