Three Cheers for the New Student Lending Law (The Atlantic)

Betty Ray Director of Programming and Innovation @Edutopia

"Today President Obama signed a bill that overhauls of the student loan industry. For decades, the federal government has supported student lenders by backing loans originated by private banks. Today we take back the bank subsidy and use it to spend down the deficit and pay low-income kids to finish college. Good day."

This change in backing could save the federal government billions of dollars that was going to private banking before. More here:

http://www.theatlantic.com/business/archive/2010/03/3-cheers-for-the-new...

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I think that situation with a

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I think that situation with a constantly growing student loan debt is critical and it’s necessary to make efforts to change it. Education has never been so expensive and many young people should take out loans to attend colleges and in the end they graduate with thousands dollars of student loan debt. And today’s job market is very weak, many graduates without any job experience are unable to get decent jobs because a lack of experience. It’s sad that some people can’t make payments without additional financial assistance and their dreams about great career and wealthy life don’t turn into reality.

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