Monday, April 13, 2009

Student Loan Reform

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.

2 comments:

Dr. Know said...

Right on!
And I have another suggestion: fund the educations for doctors who will then pay off those loans by working in publicly owned clinics. Of course, the wail and cry of the established health care industry will put a large nail in that particular idea's coffin. The last thing they want to see is reform of a bloated, top heavy medical care industry that profits billions while people die from lack of affordable health care. And let me assure you of one thing, the Massachusetts solution is not the answer to our health care problems. It IS the problem.

imee said...

Yeah I agree. Besides, education shouldn't be a burden for students--I really think everyone should have it not as a privilege but as a right. Student loans can drive both students and their parents/guardians nuts just thinking about how to repay them.

-Imee