Summary
The federal college loan program that pays private lenders a generous subsidy to make loans that are guaranteed by the government is a enormous waste of money that has long served more to enrich lenders than to help students.
Nevertheless, the Republican leadership in Congress is opposing a House bill that would save the country nearly $90 billion in the next decade alone by ending this program and allowing students to borrow directly from the government through colleges.See the full content of this document
Extract
Another View: The Student Loan Scam
The subsidy program was created when lenders were showing little interest in the college...
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