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Private Student Loan Industry, Led by Sallie Mae, Battles Democrats, Bush Over Federal Benefits »
Posted by: newsquew 2 years, 8 months agoThe private student loan industry and its leading company, Reston-based Sallie Mae, are battling against congressional Democrats and President Bush, both of whom would like to pare back the lenders' sizable federal benefits.
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newsquew
April 2, 2007, 8:55 p.m.In "Democrats' Middle-Class Payoff," Neal McCluskey, education policy analyst with Cato's Center for Educational Freedom, writes:
"...making student loans cheaper will only exacerbate the problem. Federally backed loans, for one thing, regularly go to the wrong people -- in 2003-04, nearly 30 percent of students from families earning more than $100,000 a year got them -- and they make tuition more expensive for everyone. And while federally subsidized loans -- on which Democrats are now focusing after promising to cut rates on all federal student loans during the campaign season -- go to fewer wealthy families, they still tend to benefit well-off students and those whose parents understand how to game the system."
Cheap $ = inflation
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