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Released: March 21, 2010
Cut the middleman out of school loans
Source: Eileen Ambrose, Baltimore Sun (Free Registration)
he federal student loan program has gone through many changes in its 45-year history, and now it’s time for the next big step: cutting out the middleman.
That’s what the Obama administration proposes to do starting in July. Students now get federal loans through a private lender or directly from the government. Obama wants all federal loans to come straight from Uncle Sam, which would create a net savings of $62 billion through 2020, according to figures last week from the Congressional Budget Office.
Read Full Article: Cut the middleman out of school loans
Tags/Keywords
headlines, college loans, financial aid, education loans, sallie mae, department of education, direct loans, school loans
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