Banker Gravy Trains

[lsanderson]

Lobbyists and Students
Published: February 7, 2010

The private lending companies that earn billions of dollars in undeserved profits from the federal student loan program are working overtime to kill a bill that would stop their gravy train once and for all — and should have been enacted long ago. The House stood up to the powerful lending lobby last fall and passed a student loan reform bill. The White House has been pushing the Senate, but it is having trouble finding its spine and has yet to introduce a bill. More

How much lobby can a lobby firm lob? See Kevin Drum.

Comments

[don-fitch.livejournal.com]

Yeah, the whole Student Loan situation is shameful. In a truly-civilized nation there would be a general realization that maximum application of higher education is so valuable that the Government'/society should provide it, or that no-interest (or extremely low-interest) loans should be easily available to students who qualify & perform well. The current, private, high-profit-for-investors system has (IMO) a disastrously harmful effect on our national society & culture. I don't see any significant prospect of improvement or change -- not while our country is ruled/controlled by private, profiteering Corporations.