Friday, February 05, 2010
America's Student Loan Providers Object to Being Cut Off at the Public Trough
Here is the propaganda website of Sallie Mae and the other jerks (Hi, Kevin Bruns!) who want to keep collecting public subsidies for the favor of giving out student loans.
Here are the stories of students who have been victimized by their wholly unreasonable borrowing policies.
Here's a picture of Al Lord, the former CEO of Sallie Mae, who got so rich off students' backs that he built his own golf course and tried to buy the Nationals.
The bankers are whining today because their special sweetheart subsidy program is on the verge of being canceled. This would save the taxpayers as much as $80 billion over 10 years, money that the Obama administration wants to use for Pell Grants and other good things. President Obama has called this idea a "no-brainer."
In fact the bill has already passed the House. The bankers are spending tens of millions of dollars to buy Senators so that it doesn't pass the Senate. Sallie Mae alone has spent $8 million.
If you want to make your voice heard on this issue, go to this website, Students Over Banks.