Yes...yes....let Obama be successful in his plan to reform the student loan industry in America. Let us get the usurious banks out of this equation and make this a government program. Isn't this a basic government responsibility anyway? Making affordable student loans to assure a competent work force for future America?
Right now kids are having an awful time repaying loans in this recession. Some of them are paying rates of 8% and more. This is what the banks have done for us. Now think of the kids who will be graduating this year. No jobs at all for the most part. What will they do?
And at the same time, the Universities and Colleges around this country continue to raise tuitions. UNM just did so in the midst of this recession. WTF? Aren't things tough enough? Couldn't they wait a 18 months to do this? The Governor could be a hero on this one by marching into the offices of the State's Regents and telling them to get real.
I know this is all an oversimplification of the problem. But if Obama's plan will ultimately save 90 billion over ten years and reinvest that into scholarships then it makes sense. I hope our delegation votes with him on this one.