An editorial in today’s New York Times supports President Obama’s plan to remove the private sector from the business of providing student loans. Instead, the government will lend directly to students, through the intermediary of the colleges and universities.
This seems very sensible to me, and pretty much the only way to eliminate the scams and profiteering that have characterized the student loan industry.
If the government is loaning the money, the government should control how it is lent.
Here’s today’s editorial in the Times.
What do you think should be done?
End Student Loan Scams
Jared Hobson
Jared serves as President of Great College Advice, where he sets strategic direction for the firm as well as being involved in sales & marketing and college consulting. Jared has an MBA from Cornell University, where he served on its Student Admissions Committee. His consulting philosophy emphasizes personalized attention to help identify the right college fit for each student.
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