The End of Bank-Based Guaranteed Student Loans?

June 3, 2009

The Obama Administration is trying to shift all student loans to the government’s direct-loan program and use the resulting savings to make Pell Grants. The Democratic National Committee recently sent an e-mail to students who backed Obama in the Presidential campaign to support the President’s plan to end the bank-based guaranteed loan program. The title of the e-mail message was “Students Deserve Better.” The President’s proposal is presently being considered by Congress.

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