Loans for College

 We have all heard about the amounts of money that was made and lost in the housing market, especially in terms of mortgage loans. What we have not heard a great deal about has been the amounts of money being made in the education market with student loans.  See article here

Right now, banks lend money to students, making a substantial profit, while the loans are guaranteed by the federal government. So at no risk, they are making a great deal of money on the backs of common people.  Sound familiar?

The President is proposing a plan that would include these loans in the direct loan programs from the federal government. As he said, if the people are taking the risk they should take the profit as well.

There is a great deal of lobbying going on from the banking industry to keep this lucrative process in their own houses so to speak.  If you feel strongly about the ideas, please be sure to contact your members of Congress to make sure they hear from others besides the lobbyists.