Student Loan Reform

Something so simple, so easy: end tens of billions of dollars in bank subsidies to the private lending industry and return much of the savings back into the hand of students, with the Department of Education providing loans to students directly. A no-brainer right? Well reform may be a no-go, if six Senate Democrats have their way. more »

More »»

It is, as President Obama stated, a "no-brainer." Cut the $90 billion in subsides that go to banks to make risk-free student loans that are GUARANTEED BY THE GOVERNMENT, go to direct lending, and use the money saved to increase Pell grants and tuition tax credits for working families so more poor kids can afford college. $90 billion over 10 years isn't bubkas. more »

More »»

It should be, as the President once called it, a "no-brainer": Overhaul our broken system for distributing federal student loans. Stop giving banks undeserved profits for administering these loans (an estimated $80 billion over ten years), since they take no risk and have managed the program poorly. Make sure our money goes directly to the young people that need them the most. Who could be against that? In fact, the student loan reform bill has already passed the House. more »

More »»

Right now, we taxpayers give big banks billions to subsidize their student loans. Giving big banks money is decidedly unpopular after the TARP bailout, among liberals and conservatives. So you'd think there would be consensus to end the subsidies.

Apparently not. more »

More »»

The president rightly calls it a "no brainer." Direct lending to college students that saves $90 billion in excess subsidies to big banks and uses it to pay for college grants for poor kids and tax breaks for working families to help pay for tuition. This isn't complicated. The House passed it overwhelmingly last year. more »

More »»

Representative John Kline (R-MN) and Senator Mike Enzi (R-WY) introduced legislation this week that keeps our broken student loan system in status quo, with corrupt private lenders and federal bank subsidies worth billions. more »

More »»

Recently the Secretary of Education, Arne Duncan, advised college financial administrators that with the likely passage of the Student Aid and Fiscal Responsibility Act (SAFRA) in the Senate, universit more »

More »»

This week, 50 organizations representing millions of students, families, workers and educators, wrote to urge the Senate to support President Obama’s higher education agenda. The groups expressed their support for initiatives embodied in the Student Aid and Fiscal Responsibility Act (H.R. more »

More »»