Obama Wants Government To Be Primary Financier Of Student Loans
President Obama wants to end a federally subsidized student loan program using private lenders and restore the government’s role as the primary financier for college educations. First Obama seized control of Fannie Mae and Freddie Mac, then Obama seized control of GM, then Obama seized the financial structure of Wall Street, he wants to redo taxes and now Obama wants to take control of education lending. Was this the change he was talking about, Government Take Over, no wonder he wants to remove weapons from the American citizens.
“This is not about growing the size of government or relying on the free market – because it’s not a free market when we have a student loan system that’s rigged to reward private lenders without any risk,” Obama said. Obama wants to destroy the private lenders, get all the loans back in control of the federal government, cut out the American Businessman. Is this the change he was talking about.
Don’t be fooled by the phrase ‘taxpayer could save’, taxpayer could save everywhere, this is about taking business from private lenders, putting them out of business. About 76% of all student loans the past two years were provided by private lenders, according to industry statistics. And about 30% of college students depend on student loans, Education Department data shows. If Obama’s plan comes true, those lenders will lose business, is this the change Obama was talking about. The president says reforming the system will help make American students and workers more competitive in the world economy….how?