Posted on 01/21/2010 5:25:00 AM PST by tunedin
The pen is mightier than the sword!...............
I concerned whenever the libtards think it’s a good idea....however...in this case, it makes sense that eliminating the banks could save money and if the system is already set up...
If I understand the process...the fafsa starts before many schools even accept the students...then, all the schools in the students’ final list receive the fafsa info and come up with a package for the student - what’s financed by scholarship, other by aid....the student chooses which school to attend and that starts the process rolling. Assuming a student gets no scholarships, the fafsa efc is the same info reported to all the schools - they could apply for aid to one school and students have the right to transfer the loan to another if they don’t enroll there.
I think this is a protection against your concern.
HR 3221 passed in the House Sept. 2009. It is in the senate HELP committee now I think with a new number 2669.
I could not agree more.
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