Quote:
Originally Posted by 12thMan
You don't think it's a good thing that the banks, who have been and are still making money hand over fist, are essentially cut out as the middle man? This sounds like an all around win. If the bank lobbyists hate it, then it must be good. It appears to be a win for the students and a win for cutting the deficit in he long run. These loans were subsidized and 100% backed by the government anyway. Now the government can actually save a huge sum of money and charge reasonable rates.
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It's a government takeover of, I have no idea of what seeing how they have always been involved, but if the government is involved it's a government takeover.