How many of you with kids in college or approaching college age know this?
There is a bill going through the US House of Representatives right now that will outlaw all student loans except those approved by and issued by the US Government .....
So, if you need financial assistance in the form of a loan to go to school, the only place you will be able to get it is from the federal government. A government agency will control who qualifies for a loan, who gets a loan, how much the loan is for, and what interest rate the loan will be charged.
For those of you who have gone through the time consuming process to get this form of financial assistance to date, can you imagine how long and frustrating it is going to be after the government takes over?
Support for this bill in the House is high, and it is certain to pass. It takes effect 6 months after it passes, so it will be in place for the fall semester next year.
Update - Financial industry experts are estimating that over 30,000 people will lose their jobs with financial institutions because of this takeover by the government. Government itself, will of course, expand. So much for Obama's promise to protect and create jobs ....
You know what this is a part of? Obama and the far left want government to control finance and the economy completely. Capitalism, free markets, business - they are all evil ....
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1 comment:
So how is that keeping and creating jobs then?
Oh, wait, that's just a saying, it's not really happening.
And how would this help or encourage people to go to school?
Oh, wait, silly me, it's not supposed to, is it?
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