NAICU - Remove middle man from college loans

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Remove middle man from college loans

Miami Herald - Editorial

February 9, 2010

President Obama wants to do away with the middle man -- banks and lenders like Sallie Mae -- and have universities and colleges deal directly with students and the federal government. This is how Pell Grants are awarded. Not so for loans, which banks and Sallie Mae now profit from in most cases. Of course, this makes so much sense that it's now imperiled in the U.S. Senate. The banking lobby and Sallie Mae are crying, Job losses! Government takeover! And senators are buying this red herring?

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