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Federal Takeover of Student Loans shifts control to non-profit agencies. Special Deals made?

Are you satisfied with the Federal Bank Monopoly? Why?
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In the healthcare bill there is a Student Loan Takeover, Why?
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Several dozen nonprofit firms will be eligible to receive no-bid servicing contracts on up to 100,000 student accounts for each firm.

California’s ALL Student Loan looks to be a big winner, thanks to language written by Representative George Miller of California.
ALL Student Loan may have helped its cause by retaining the services of Vincent Reusing, a lobbyist whom the Chronicle of Higher Education has described as a “personal friend” of Mr. Miller.
The nonprofit companies set to benefit from this reconciliation earmark clearly enjoy broad support in the Democratic caucus.
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Answer Question
 
grlygrlz2

Asked by grlygrlz2 at 6:38 AM on Mar. 29, 2010 in Politics & Current Events

Level 39 (106,530 Credits)
Answers (12)
  • grlygrlz2

    Answer by grlygrlz2 at 6:41 AM on Mar. 29, 2010

  • According to the CBO,increased spending on Pell grants envisioned under the legislation could cost $68 billion over 10 years, compared with the $38 billion foreseen by the administration.


    The Pell program is expected to cost $32.3 billion in 2010, compared with $18 billion in 2008. The CBO expects that upswing will continue well into the decade.

    grlygrlz2

    Answer by grlygrlz2 at 6:52 AM on Mar. 29, 2010

  • Ahh yeah so money really isn't being saved..Miller just wants to spread the wealth around lol
    tnmomofive

    Answer by tnmomofive at 8:06 AM on Mar. 29, 2010

  • Ahh yeah so money really isn't being saved..Miller just wants to spread the wealth around lol YUP..


    He has to pay back those nonprofits who worked hard to get him elected... Funny how that works, ehhh.... Yet again, Democrats are FOR the people... NOT!

    grlygrlz2

    Answer by grlygrlz2 at 8:43 AM on Mar. 29, 2010

  • Wow, it sure is quiet in this question. Where are all of the HC supporters now?


    So, grly, you are saying that in the HC bill, there is a provision to allow NO-BID contracts to be handed out?


    I thought this administration was against no-bid contracts, weren't they?


    How interesting.

    QuinnMae

    Answer by QuinnMae at 9:13 AM on Mar. 29, 2010

  • What exactly were they claiming to be against before that they haven't now taken part in? And in some cases taken part in worse then any before them.I guess this was the 'change'
    tnmomofive

    Answer by tnmomofive at 9:16 AM on Mar. 29, 2010

  • No Bid contracts to liberal cronies to decide if little Johnny or little Jane get to goto school... All in the hands of Big Ole Nanny Federal Government... What could possibly go wrong?!?! :o/
    grlygrlz2

    Answer by grlygrlz2 at 9:23 AM on Mar. 29, 2010

  • I too am puzzled about what happened to the end of special interests-
    Another part of the HC bill that will have a dramatic effect on my family- two kids going to college in the next 8 years, but I can not be unhappy, because that would make me selfish! Those darn kids- working hard to make good grades, us saving trying to get the money together for college-but still will need some help- we are horrible, horrible people and should be punished! (again)
    soyousay

    Answer by soyousay at 9:28 AM on Mar. 29, 2010

  • Can you imagine an "Acorn" servicing your loans?

    This is all part of the government takeover. It's not ment to happen quickly but it is
    happening right in front of us. Government jobs have skyrocketed and private jobs
    are disappearing daily with no improvement in sight. Bad part is you can see no one
    is hiding the way this is happening and people still tell you it's not.
    itsmesteph11

    Answer by itsmesteph11 at 9:38 AM on Mar. 29, 2010

  • You got it, soyousay.
    mancosmomma

    Answer by mancosmomma at 9:43 AM on Mar. 29, 2010

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