Student Loan Reform
If you hope for your kids to someday attend college, and also recognize that you aren't going to be able to foot the bill for this personally, you might be interested in a less-talked-about aspect of the recent legislation that was passed reforming health care.
Included with this legislation was legislation overhauling the student loan program. Some people think this is a bad idea. Some people think this is a good idea.
I'm all for streamlining things and reducing waste and not having taxpayers guaranteeing the profit of intermediary financial institutions dispersing government dollars for tuition. On the other hand, I'm very leery of the government being the only option for obtaining student loan monies. Firstly, I'm completely disbelieving that our own government can actually effectively eliminate waste, corruption, or other bad business ideas. Secondly, it makes me itchy that the government directly is going to assume responsibility for determining who gets the aid to go to college and who does not.
I understand that essentially nothing has changed other than the elimination of middle-men. The theory sounds good. Only time will tell whether theory and reality have anything to do with one another.
Included with this legislation was legislation overhauling the student loan program. Some people think this is a bad idea. Some people think this is a good idea.
I'm all for streamlining things and reducing waste and not having taxpayers guaranteeing the profit of intermediary financial institutions dispersing government dollars for tuition. On the other hand, I'm very leery of the government being the only option for obtaining student loan monies. Firstly, I'm completely disbelieving that our own government can actually effectively eliminate waste, corruption, or other bad business ideas. Secondly, it makes me itchy that the government directly is going to assume responsibility for determining who gets the aid to go to college and who does not.
I understand that essentially nothing has changed other than the elimination of middle-men. The theory sounds good. Only time will tell whether theory and reality have anything to do with one another.
Comments