Takeover on Campus (Obama Is Coming for Your Stafford Loans)

NRO ^ | 10/29/2009 | Stephen Spruiell

[markomalley]

The Obama administration is trying to strong-arm America’s colleges and universities into complying with a bill that hasn’t been signed into law yet. The bill, which would replace current subsidized-student-loan programs with a government-run system, passed the House last month, but its fate in the Senate is far from clear. Sen. Tom Harkin, chairman of the Education Committee, plans to use the budget-reconciliation process to pass the contentious bill with a simple majority, but The Hill newspaper reports that it might not even have 51 votes. The bill is far from a fait accompli, making the administration’s pressure campaign all the more egregious.

Education Secretary Arne Duncan sent a letter Monday to colleges and universities urging them to make sure they are ready to switch to the government-run system for the 2010-11 academic year. But most of the nation’s 5,000 colleges and universities prefer to work with private lenders. Under current law, the government offers subsidies to banks and non-profit lenders that make low-interest loans (called Stafford loans) to college students. Since 1993, the government has also made subsidized loans available through a direct-lending program — think of this as the “public option” for student loans.

The public option has proven unpopular: Except for a credit-crunch-related spike last year, its market share has fallen steadily since its inception. Schools prefer private lenders because they tend to offer higher service levels with the goal of making students lifelong customers. The government processes paperwork, and that’s about it.

But the Obama administration wants to make the public option the only option...

[markomalley]

As with student loans, so will go health care.

Welcome to the Obamanation

[raybbr]

This bill is part of Obama’s reparations plan. Soon only minorities will get grants.

[classified]

Also it guides the choice of subjects one applicant will be allow to major in. We will loan you money only if your major is this, this, or this. Once the gov. decides who gets the loans they also decide what you will be allowed to major in.

[ClearCase_guy]

Excellent graphic.

[Mrs. B.S. Roberts]

#1 EXCELLENT PHOTO

#2 This is why is would not my college junior to take out any federal loans! We are working with a private lender -

I am afraid that the federal backed loans will come with strings attached - heavy strings - like possibly “volunteer service” requirements in the O’s youth core or something like it.

[fortunate sun]

I thought the “Obama Demographic” would be pleased to exchange a college education for indentured servitude.

[thecabal]

Ding ding ding ding ding! We have a winner!

[PapaBear3625]

Also it guides the choice of subjects one applicant will be allow to major in. We will loan you money only if your major is this, this, or this. Once the gov. decides who gets the loans they also decide what you will be allowed to major in.

Private loan decisions are guided by the probability that loans will be repaid.

Government loan decisions will be guided by what promotes the political agenda. Look for ACORN to control who gets into college.

[Right Wing Assault]

We have some parent loans to pay for our kids' college. They were through Sallie Mae and started out about 3.5% and it was gummint subsidized, I believe. Somewhere along the line, two things happened: The rate on new loans went to 8.5% and Sallie Mae was privatized.

Recently, the Dept. of Education started buying up some of the loans. They got one of ours. We are going to pay that one off ASAP, since any interest the gummint gets, they will waste.

If the kids hadn't done so well in school, we never would have paid a dime for them.

[Leftism is Mentally Deranged]

Another government takeover of what was once the private sector.

[NoObamaFightForConservatives]

Exactly and the middle class with no jobs money or homes will get nada.

[classified]

Exactly! But it doesn’t just end at who gets accepted into the university, once you are accepted, you might not necessarily be able to study for the particular career you have in mind. Remember Michelle Obama’s speech early on after Obama was elected? She made a comment on how people need to go into the community service careers? This is the goal to put certain individuals into certain areas and yet others where they see fit. Complete control! It just goes on and on!

For instance they’ve already started with the community service thing by having moles and monitors to man talk boards like Freerepublic etc.

[WOBBLY BOB]

All majors with govt. loans will need to major in Environmental Sciences with professor ALgore.(Queer Studies taught by Barney Fwank.)

[Nachum]

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