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Friday, 20 July, 2007 @ 7:18 am
They are doing something.
Written by GussThe Senate overwhelmingly approved a wide-ranging overhaul of student loan programs early today that would pay for more than $17 billion in grants and other student aid by slashing subsidies to lending companies.
Democrats and student advocates said the legislation, which passed in a 78 to 18 vote, would help millions of Americans pay for college in a time of steady and often steep tuition increases. But lenders and some Republicans said the measure would hurt students by making it unprofitable for many companies to issue such loans.
Big Mo Says:
July 20th, 2007 at 12:25 pmVisit Big Mo
Well, yeah. Money isn’t free — unless you’re the government.
Look for fewer companies willing to make these kinds of loans because there’s much less profit in it (that’s why companies exist), and then congress will make a law demanding they provide free loans, and then more of these companies will just fold up shop rather than engage in stupid business practices that make no money for the company just to satisfy politicians eager to get re-elected.