Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Man Tries to Order Priciest Starbucks Drink Ever Total cost: $23.60 »

Student Loan Bill a No-Brainer That Actually Might Pass

But issue of rising tuition remains

By Sarah Quinn,  Newser Staff

Posted Sep 17, 2009 9:10 AM CDT

(Newser) – For health reform watchers despairing that lawmakers "will never be able to do anything, ever," it's time to turn an eye on the no-brainer student loan reform in the House, Gail Collins writes in the New York Times. Right now, the government gives banks money, pays them to lend it to students, and guarantees the loans. Under the new plan—wait for it—"the federal government makes the loans," she writes.

Sounds simple, right? But GOP Rep. John Kline wants to leave things the way they are and “convene a nonpartisan commission,” which makes Collins want to "topple over in despair." Regardless, Democrats should be able to push the bill through the Senate, and "Congress will have come a way toward fixing this problem," Collins writes. Which leaves just one other issue: tuition that "keeps running ahead of the rate of inflation like Secretariat closing in the Belmont."

New graduates cheer during the New York University commencement ceremony at Yankee Stadium in New York on May 13, 2009.
New graduates cheer during the New York University commencement ceremony at Yankee Stadium in New York on May 13, 2009.   (AP Photo/Seth Wenig, file)
« Prev« Prev | Next »Next » Slideshow

The assumption that kids can just pay the bill with borrowed money has to be one of the reasons schools aren’t feeling more pressure to control costs. - Gail Collins, The New York Times

It is a tad depressing to imagine all those committees of yore, sitting there and saying: 'Gee, it sure would be nice to improve Pell grants and community colleges. But everybody says we need that money to give to the banks.' - Gail Collins

« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Showing 3 of 16 comments
Guest
Sep 21, 2009 11:49 PM CDT
What're some examples of business ethics from the past? Working children? Locking workers out of work? No ventilation around dangerous fumes? Open vats for workers or their body parts to fall into? Work the people and take the money and run? You talking about those business ethics?
Snarfeh
Sep 17, 2009 11:12 PM CDT
Hahahahaha...too funny...I love it! No liberal would have thumbed down my comment therefore it must have been three repuglicans which just proves repuglicans DO want socialistic programs as long as they plan to use them, but if poor people and/or people of color are the only ones most likely to use the program, then and *only* then is it wrong....
NewserScooter
Sep 17, 2009 6:04 AM CDT
This was originally a Dem idea to use the gov't to back up the student loans so that banks would make high risk loans.

More Newser Stories

What GOP Will Do With a House Majority

'No' Votes Adding Up to Trouble for Pelosi

Palin Renews 'Death Panels' Argument

Obama: 'Let's Finish the Job'

Health Care Reform Hinges on House Abortion Vote


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne