Dems: make student loans student friendly

[sabra]

http://money.cnn.com/2006/11/13/magazines/fortune/democrats_student_loans.fortune/?postversion=2006111313

Dems: make student loans student friendly
Companies that make money in education have had good friends in Congress. That may change under the Democrats, says Fortune's Bethany McLean.

(Fortune Magazine) -- In the corporate world, there's a short list of obvious suspects who may face tougher times under a Democratic Congress, including Big Pharma and Big Oil. Then there are the not-so-obvious suspects - like what might be called Big Education.

In fact, the stocks of companies that make their money educating America's college students have had a turbulent year. Look no further than the granddaddy of student lenders, SLM Corp. (Charts) - more commonly known as Sallie Mae -which fell some 13 percent through Nov. 7 and dropped another 5 percent on Nov. 8, as the news rolled in that the Democrats had captured the House.

In Congress's last term, Republicans did not fully reauthorize the Higher Education Act, which governs many aspects of education finance, thereby leaving the door open for Democrats to change the laws.

And change is indisputably part of the Democratic agenda. George Miller (D-California), who is likely to become the new chairman of the House Committee on Education and the Workforce, wants to cut interest rates on student loans in half.

[terip64]

1. Please! I hope this effects my kids. Interest rates are almost 9% n/t

[Demeter]

2. Once Upon a Time The US PAID People to Go to School

and those graduates used to get hired and have real careers.


Sounds like a myth, doesn't it?