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?
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Mark Montgomery
Mark is the Founder and CEO of Great College Advice, a national college admissions consulting firm. As a career educator, he has served as a college administrator, professor of international relations at the University of Denver and the Hong Kong University of Science & Technology, program consultant at Yale and the University of Kansas, government instructor at Harvard and Tufts, high school teacher of French, and a Fulbright teacher of English in France. He has personally helped hundreds of students from around the world map their college journeys. Mark speaks on college preparation, selection, and admission to students and parents around the world, and his views have been published in major newspapers and journals.
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Mark Montgomery
Mark is the Founder and CEO of Great College Advice, a national college admissions consulting firm. As a career educator, he has served as a college administrator, professor of international relations at the University of Denver and the Hong Kong University of Science & Technology, program consultant at Yale and the University of Kansas, government instructor at Harvard and Tufts, high school teacher of French, and a Fulbright teacher of English in France. He has personally helped hundreds of students from around the world map their college journeys. Mark speaks on college preparation, selection, and admission to students and parents around the world, and his views have been published in major newspapers and journals.