What's Awesome! How Dems are doing something that no one is paying attention to, but should!

[FrenchieCat]

President Obama is about to, with a signature, revamp the entire Student loan process,
and cut out government subsidies to banks for private student loans.

This saves the government 8-10 Billion dollars a year, money has been going
to banks, but which will now stay in Government Coffers, and will be used
instead to fund even more direct loans from the Federal Government to students
who need them.

In addition, the terms of paying back these loans will be reformulated
based on a graduates actual income, instead of just a set amount.

Also, Students with various private and government backed loans will now be able
to consolidate these loans, and this is ratroactive.

All of this is something Democrats have been trying to do for a while now.

As soon as the Senate passes the Reconciliation package of the health care bill,
It will be done!

Here's details about the changes to the Student Loan programs in the Reconciliation bill:
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=433x229011


Under normal circumstances, this change would be a big thing, and it does count as a big campaign promise kept;
a promise made to students by Barack Obama, the candidate.
but like the Immigration March of 200,000 was minimized yesterday,
because of what was happening on Capitol Hill, so too has this been minimized at this time.

Again, Republicans will not be able to claim any credit for this,
and in fact, will be on record as voting against this measure...

Hopefully, we Democrats, will be pointing this out to our younger voters,
over again and again, to make sure they are fully aware of who it is that has their back,
as we articulate to them why they need to perserve and widen Obama's majority by working
hard during the 2010 election.

It is important to get young people out to the polls in 2010,
and to get them involved in the various campaigns,
and it is up to us to get the message out to them!
So let's make sure we have the facts to get this done!

You wanted change? Well, here's some more.
Another Promise Kept.

President Obama and Democrats, although it won't be a done deal till the fixes are passed,
I give a toast on this big ass change to you right now! :toast:


Republicans should be very afraid. I certainly would be, if I were them! :scared:

[FrenchieCat]

1. For awareness sake, may I get a Kick with those recs?

:shrug:

[NatBurner]

3. since u asked me so nice

here u go

[FrenchieCat]

7. Thank you!

:hi:

[one_voice]

8. This is great news!

I have a son in college right now.

I know how to rec but not "kick".

Still new to this site, lots of things I don't know.

Trying to learn.

Thanks.

[Political Bitch]

17. Hi there!

When you reply to a thread, it 'kicks' the thread to the top of the list as having the latest reply. Just by typing 'great post!', you kick it up the chain. Welcome to DU! :hi:

[one_voice]

19. Thank you.

:-)

[Jackpine Radical]

28. You just kicked it.

If you wanna make your point clear, you click on the little Smilies Lookup table :dem: <-------and click on this little guy.

Then you will have K&R'd the thread. Like I just did.

Great news indeed.

Some find me a pill for trying to push Obama to the left, but I think great moves like this one ought to be acknowledged too.

[Top Cat]

42. K&R

[dotymed]

89. Here ya go

:kick: :kick:

[Deep13]

2. neato.

:thumbsup:

[activa8tr]

4. K+R Thank you for making note of this. It sure has

escaped most of the news media coverage today.

[FrenchieCat]

6. They will make sure not to mention it,

unless it is done in a negative context.

That's what the media does, which is why they are not our friends.

[fugop]

5. K&R! nt

[TuxedoKat]

9. Just forwarded this to my sister

who is up to her ears in loans for her daughter's education. Thanks!

[JTFrog]

10. K&R!

[Jennicut]

11. Direct loans from the govt. are much better then from the bank as the middleman.

K&R!

[FrenchieCat]

14. Yes. This is doing for Student Loans, what many wanted for Health Care,

providing single payer.

[gademocrat7]

12. K & R

Cheers, Frenchie!

[dionysus]

13. kick

[lifeliberty345]

15. I can finally goto college

Thanks Democrats! :Grin:

[Dappleganger]

16. A giant K&R!

[kirby]

18. This is returning things to how they used to be...

I do not remember whether it was Clinton or Bush, but I it wasnt until recently that they wanted to inject some 'free market' into the students loan program. Of course nothing was free-market about it, because the banks made and serviced the loans, but the Fed Gov't insured the loan in case the student defaulted. It was a typical win-win for the banks situation.

I do not hear any media reporting that we are just putting things back like they were.

[hay rick]

20. K&R

[hisownpetard]

21. K&R!

[truedelphi]

22. A big Kick & R. n/t

[old mark]

23. God - don't tell anyone - I am hoping it will help me get out of debt.

I am retired almost 3 years and still paying off student loans I made almost 20 years ago when I went back to school.

I was very sick, and unable to pay, and as a result I now owe about 50% more than I first borrowed - and I have been paying on it for years.

I'm hoping there will be something good in it for me.

mark

[RepublicanElephant]

24. k& r

!

[hypocrisyandlies]

25. K+R

Too late to help me out, but I'm glad other students will be helped by it!

[bluesmail]

26. My recommendation +1, + another K&R. You are an awesome Frenchie Cat.

Thanks for the wonderful information. It will help the crappy economy get out of it's crap induced fugue state. (Oh never mind). I haven't felt this optimistic since the voters elected Obama Nov. 2008, YAY!

[radical noodle]

27. Thanks FrenchieCat

:yourock:

[Cha]

29. Thank you, Frenchie~ I've talked

about this Student Loan "Investment" to three or more of my friends at work who are relatively active in what's going on..but they didn't know about this and I will send the link you gave to them!

Here's to a Done Deal that we wouldn't even be able to consider if the HRC hadn't passed yesterday in Congress..219-212.:fistbump:

[Wednesdays]

30. K&R

:kick:

[stuart68]

31. OMG - you must be kidding !

We know what the government is capable of when they take over financial lendig operations - it is an abject failure...

"The Congressional Budget Office estimates that Fannie and Freddie added $291 billion to the federal deficit in 2009 and will cost an additional $389 billion to run over the next ten years. However, Fannie and Freddie are currently considered "off budget" meaning the actual cost to run these agencies is not considered by the Office of Management and Budget."

oh, yeah, we will save $8B to $10B a year.

[FrenchieCat]

32. yeah, cause the private Bank needs more Government money!

Whatfuckingeva!

[stuart68]

34. Huh ?

so, let's take $10B away from private banks so the government can squander $300B from mismanagement.

Great idea.

[Name removed]

36. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Name removed]

41. Deleted message

Message removed by moderator. Click here to review the message board rules.

[FrenchieCat]

47. Hufpo for stats on Fannie and Freddie! LOL!

impressive! :rofl:

[stuart68]

70. Keep your head in the sand - the article has verifiable sources

You have simple conjecture - the writer states facts. But you are entitled to your ill-informed opinion.

[sandnsea]

44. Whoa Whoa Whoa

FHA and the Community Reinvestment Act worked wonderfully for decades. It wasn't until all this bundling and rebundling, and the derivative shenanigans, that the housing market unraveled.

[stuart68]

71. Never said they didn't work, but you prove my point

Despite whether or not something works, the government has a way of making a mess of it, just as they did with Freddie and Fannie. Now, we are not only paying for it, but they refuse to own up to the mess, keeping it off the books. If history is a guide, the college loan system will be a similar mess shortly.

[fasttense]

75. Seems to me these messes that the government creates mostly happen on RepubliCON watches and

involve private entities. As long as the government keeps it in-house with NO private contractor or private banks involved, things go pretty smoothly.

When RepubliCONS are selected by Supreme Courts, then they bring along their subcontractors and former corporations to funnel off tax dollars for their little games.

The post office is doing fine, and our military was the best in the world until Halliburton and Blackwater started to eat it up. Social Security has yet to miss sending out a check and our public schools were neck in neck with the rest of the world until the bushes and No Child's Behind Left came along.

Corporation and private banks have a much worse track record. Like destruction of our financial system through book making with swaps, derivatives and over-leveraging, and ENRON and their cheating accounting firm Arthur Anderson.

It's the 1 - 2 punch that destroys government, RepubliCONS and sub-contracting to Corporations and cronies. So, wrestling the private banks out of the student loan situation is a win for us all.

[socialist_n_TN]

93. Well sure things go well until ...............

the Republicans get their hands on it. That's because the Republican idea of governing is that the government can't do anything, so they've got to throw in some private enterprise (read greed) into the mix. Anytime greed comes into big programs they get screwed up because they ARE big programs. It's harder to oversee big programs, ergo it's easier for the greedy to rip them off.

I've never understood why anybody could LOGICALLY think that somebody who doesn't BELIEVE in government, can be expected to govern. If you don't believe in something the only reason you get involved in it is to dismantle it OR to take advantage of it.

[stuart68]

103. you have to be kidding

not on the r issue, but the post office ? a mess - they are only viable because competition is not allowed to charge the same rates. SS - doesn't miss a check, but the system is broken and cannot be sustained.

[jeff47]

78. You are blaming the wrong entities

"Despite whether or not something works, the government has a way of making a mess of it, just as they did with Freddie and Fannie."

Fannie and Freddie were not allowed to make subprime loans. In fact, it is the fact that the borrowers couldn't qualify for Fannie or Freddie that made the loan 'subprime'. The law was changed in 2007, but Freddie and Fannie never had much time to make subprime loans before the market collapsed.

On the other hand, lots and lots of private mortgage companies made lots and lots of subprime loans. And when those loans went south, the entire housing market blew up, dragging down Freddie and Fannie, as well as lots and lots of other institutions. Today's losses on Freddie and Fannie, as well as AIG, Citi, Lehman, etc, are due to the meltdown in the private mortgage business.

You are acting as if history only goes back 3 years.

[stuart68]

102. not sure where you get the data, but

Fannie is looosening up standards in the middle of a catastrophe. If you want to give people homes, them give them the money, but loaning funds to people who have no means to pay is not good for them, the lender or the rest of the system.

History does not go back three years, but this is my point. It all starts out fine, but then blows up in our face due to meddling.

[Fire1]

33. Thanks Frenchie! Didn't know the details until now. This

too, is FABULOUS news!! I hope to take more classes this spring semester. My son will be thrilled, too!

[kestrel91316]

35. K&R!!!

[SocialistLez]

37. Not all Dems

My senator, Blanche Lincoln, is voting against the health care bill specifically because of student loan reform.
Of course she is a DINO but it still has to be mentioned not every Dem is behind this reform.

[Jeff In Milwaukee]

38. This is HUGH!

Seriously. It really is. Saves the taxpayers a bundle AND ramps up aid to education.

This is why we voted for this guy.

[jenmito]

39. K&R! Thank you for that. n/t

[flyingfysh]

40. I used to work for a student loan company

It did business with lots of big banks, and made tons of money from fees. (I worked on their computer system)

This will essentially drive them out of business. And I'm not a bit sorry for them.

[DonCoquixote]

43. KICK

It is sad that admist all the smoke, and in some cases, valid disappointment, something like this, that resonates with the YOUNG FUTURE VOTERS, and us Gen Xers that got shafted by student loans, gets ignored.

[jonathan_seer]

45. I agree, and this effort is going a long way to restoring my faith

HOWEVER, the OBSTACLE the lobbyists are counting on is the Senate filled to overflowing with Representatives of the Corporations.

Fortunately Pres. Obama has no "pro-lender" advisor whispering in his ear, so we get to see Obama's actual progressive streak on full display.

[JDPriestly]

46. This is real change! Important change!

This is what John Boehner was really crying about.

[swishyfeet]

48. I wonder if we can re-consolidate?

My wife consolidated her massive student loans when she was very young - not knowing that she wouldn't be able to do it again (even with her rates at 8%). Dropping a few points would save us hundreds each MONTH.

[FrenchieCat]

61. I'm not sure. Talks about folks having a year,

but I'm not certain exactly how it all works just yet.
Guess once the bill is passed, we'll get a better idea.

[mucifer]

49. Unprivitising student loans!

[rhett o rick]

50. K & R. And thanks for posting. nm

[eridani]

51. Now THAT is actually worth celebrating

Consigning people to "coverage" based on age and income discrimination.

[Lost-in-FL]

52. GUVMINT TAKEOVER!!!!

:evilgrin:

[dmr]

53. This is good for my son. n/t

[Guilded Lilly]

54. Considered yourself kicked...

with considerable affection!

Great great news!

[Jakes Progress]

55. This is such a good thing

that I won't even gripe because we didn't get the same deal for health care.

I went to school long enough ago that my loan came from the government. No sweat, no problem. I got the money and the degree and then paid them back.

My son had to try the loans through banks. Paperwork out the wazoo. Fees like flies on dung. Three time in four years they screwed up the paper work and it took several hours of our work and theirs to get it straight.

Now we need the other things he talked about with student loans. Paying them back as a percentage of income. We also need price controls on college fees and tuition.

[LiberalFighter]

56. This should help every Democrat that voted for the bill

and any candidate running against a Republican incumbent.

Senate Democrats need to pass the changes as is and quit screwing around.

[Stellar]

57. Cool! K&R

:hippie:

[Lifelong Protester]

58. I don't think you need the kick now, but any hoo...

and I think you make a very good point. So much is going to come back and bite those republicans in the butt, they'll look like errant dogcatchers....

[rufus dog]

59. This is HUGH!

Seriously this has direct impact to millions of families. The Rufus family has the following stories:


1. Without gov't backed loans it would have been extremely difficult for me to make it through college. I may have taken the plunge at higher rates, but rather than getting out of debt in five years it would have taken much longer, probably 15 years. Thus I would have had less money for mortgages, thus paying less taxes, ..... So for kids like me coming up now, it is extremely burdensome to make it through college without a boatload of debt.

2. We have a relative living with us who is struggling to make it through college for one reason, the costs. Kid is smart as friggen hell, gets straight A's, wins all kinds of awards and scholarships, on and on. Due to the cost she is forced to take breaks and work full time, which requires her to start paying back loans. Guaranteed she will be making enough money in five years to be taxed at the highest rate. So the quicker she is done, the quicker she is producing a revenue stream for the gov't and less money goes to non value added banks.

Now the Republican way would be to tell her to give up her dreams, forget the highly prestigious specialized school and go to a different school and work her way up through industry. That does many things, crushes the dreams of a kids whose parents aren't extremely wealthy and can't afford the best education, reduces competition for the wealthy by eliminating competition from the afore-mentioned kids, reduces tax collections. The Democrats way creates competition, allows more to follow dreams, and increases revenue.

[inna]

60. Very cool and worth celebrating. KR+145!

[jsamuel]

62. the student loan thing is in the reconciliation fixes bill, which has yet to pass the Senate

just so you know that it is not in the bill Obama will be signing tomorrow.

[Tx4obama]

63. Correct, in the FIX bill. Senators Blanche Lincoln & Ben Nelson are voting NO

because of the student loan language in the FIX bill.

[jeff47]

79. And?

So what? The point of reconciliation is we don't need the DINOs.

[FrenchieCat]

66. Read the Op again.

or at least the last 3 sentences.

[sheldon]

64. Nice! Change takes time.... I'm still hopeful.

It's clear that we finally have someone intelligent as president, what a relief!

[DesertFlower]

65. K&R

[Yuugal]

67. K&R

[joycean]

68. Another good part of this legislation

Loan forgiveness is reduced from 25 years to 20 years. So, if you borrow say $300,000 for medical school from Stafford, after 20 years of consistent payments the remaining debt will be forgiven.

[Lochloosa]

69. Morning Kick

[JustAnotherGen]

72. I did notice this

But would rather keep it quiet. ;-) Until next November. I'm one of those 'kids' that in the 90's was only able to get UNsubsidized loans. May nooooo other 19 year old have to earn exhorbitant interest WHILE in college. This will stop that nonsense cold in its' tracks. And maybe by not being 'indentured' to the banks - those who are science/math/engineer minded will turn their nose up at a bank job (lowered interest won't scare them into working for Chase Manhattan) - and go towards medicine, medical research, creating technology that is energy efficient/kind to the earth.

Gets them out of 'slave to the bank' status when they graduate! :pals:

[Ohio Metal]

73. When will this take effect?

I'd like to be able to go back to school without being screwed by a bank.

[stlsaxman]

74. shows how incredibly unawares and bought-out the MSM are... K&R!

thanks for pointing this out Frenchie!

[opihimoimoi]

76. KnR...but of course....The GOP whiners are so jealous they are in a trance...

[hedgehog]

77. Yeah! Talk about a smooth operator! I thought this was going to be Obama's

next big fight, and it got tacked on to the Health Care Bill with very little notice or fuss!

:woohoo:

[yellerpup]

80. Kick & Recommend!

Changes made, promises kept, and they can't stop it. Sweet!

[Lerkfish]

81. wonderful!

thanks

[disillusioned73]

82. kicked? I am still learning the terminology around here

I was speaking to a hardcore Repub(w/child attending college) this morning about this very issue and even he had to begrudgingly admit that this was a good thing....

I think he is a closet tea partier so that had to sting

[Scruffy1]

83. Best part of the whole damn bill

How in the hell could it be that the taxpayers had all of the risk and none of the profits. Only in a very corrupt government could such a thing be allowed to happen. We guarantee the loans and they collect the interest on money we loan them for bumpkies. Thank you Mr. Obama.

[tabatha]

84. K & R

[ClassWarrior]

85. No, it won't be done. This is a good first step, but it's ONLY a first step. We still have...

...a helluva lotta work to do to make sure every American has quality, universal, affordable healthcare.

NGU.

[tosh]

86. K&R....for my nephews

who need all the help they can get with those student loans they had to take to attend PUBLIC universities, and which, for one of them, are causing grad school to be postponed.

edit sp/cat-worn keyboard

[no limit]

87. This actually sounds like a very good thing. So forgive me for thinking the senate will fuck it up

[grahamhgreen]

88. Question is: do they really want to pass the reconcilliation parr of the legislation?

[wryter2000]

90. This is majorly wonderful

Why in hell should some greedy bank and its banksters make money off student loans? Back in the stone age when I went to college, I got student loans from the goverment at interest rates just high enough to cover administrative costs. I think it was about 3%. Even as a new grad with no lucrative job, I was able to pay the loans back with no pain at all.

I had no idea up until a few years ago that the system had become so gawd-awful that students were coming out of college with debt in the tens of thousands of dollars.

I'm thrilled that this is going to be fixed. Our President done good on this one! :applause:

[blur256]

91. I work in Financial Aid...

And this is awesome. My school just recently switched to direct loans and it is definitely more beneficial to the students this way. Not only can they consolidate all of their loans with this (Stafford anyway), the students actually get more money out of their loans. Whereas the banks took out a 1.5% fee, the government only takes .5%. While that does not sound like a lot (maybe 20 or 30 bucks each semester) it definitely adds up in the end! For anyone who has kids in college or is going to have kids in college this is definitely good news. :thumbsup:

[vanbean]

92. K&R

[northernlights]

94. Pell Grants are not loans. Everything at OP link TERMINATES STUDENT LOANS

Pell Grants and other grants are only available to students who don't already have degrees.

You didn't post the entire bill, so maybe it's not as dire as it looks. But at first glance, it appears that people who don't qualify for grants because they already have a degree will no longer be able to get student loans either.

So one set of needy people is being funded by a different set of needy people.

Well, at least my student loans were unexpectedly cut off last fall. But I really didn't need to have yet another glimmer of hope dashed.

[liberation]

96. Correct.

There is also the "small detail" that there are no appropriations in the bill, thus there is no actual mechanism to fund the proposed changes to student loans. Meaning that those crooning in this thread about the imminent change in the "fortunes" of their student loans, are going to get a rude awakening (or not, denial seems to run rampant).

It is still "good news" compared to our current system, but then again the poop I just scooped from my dog this morning is better than the current system, so it is not saying much. The bill itself is rather ineffective without funding sources. Also Sallie Mae et al already putting pressure to make sure the changes on loans are not effective for at least two to three more years. So again, those expecting relief right now are shit out of luck. But keep clapping, happy days are here again...

[blur256]

101. Students who have a degree will still be able to get loans

From what I understand, nothing is going to change as far as administering the loans goes. I think what a lot of people don't realize is that Stafford loans are kind of like credit cards in that they have an aggregate limit. Students can only take out a total of $57,500, but if they pay any of those back they regain that eligibility. So as long as they have the eligibility left, they can get loans regardless of what degrees they already have. And that is the undergraduate limit. There is a separate post grad limit as well. It is true, however, that students with bachelor's degree cannot receive Pell (associates degrees don't count in that). The thought behind it is that hopefully a student who has a degree should be able to pay more. I'm not saying that's necessarily true, I'm just saying that is the thought behind it.

[northernlights]

104. my stafford loans were cut off at $20K

as were the stafford loans of my labmates, all of us halfway through the Med Lab Tech program. The reason given in the letter they sent us is that our prior BS degrees gave us "too many credits."

The problem is that federal law requires the Med Lab Techs get the AS degree before they can sign up for the BS degree. Stafford loans are good only for 150% of total degree credits. So prior BS degree put us over the limit half way through the AS degrees. We were supposed to have been aware of this before we started by having found and read an obscure web page that is supposedly linked to the financial aid web page (but with a dead link when I actually attempted to access it via the URL they provided us.)

Without some sort of loans, we have to finish the 2nd year -- including 5 months of clinical training (40hours/week on the job w/out pay plus homework, projects and exams) -- on our own.

I'd sell my house if I could, but not one damn buyer in sight. I have no idea how I'm going to get through the second half of the program...especially the clinicals.

[blur256]

106. It's a Tricky Equation

And unfortunately, a lot of that has to do with the school you go to. That 150% rule is correct, but most schools won't let you transfer in enough credits to let that be an issue. Have you looked into alternative loans? I know those are far from great, but they are an option.

[northernlights]

107. yes, no private student loans available

I could apply for a home equity LOC. I own my home outright and have an excellent, 800+, credit rating. But my work history for the last 8 years is spotty (tyvm, W you effing arsehole). So I'm afraid it will be $200 application fee down the toilet. If nothing else breaks my way, I'll have to go for it.

My stooopid university transferred in every effing useless credit. Did the same thing for the other students now cut off.

I've worked my ass off in this program. I have a 4.0 and just got invited to join the honors program for the 3rd time. I finished pre-med biology with 100% average, anatomy and physiology with a 99.68% average. Not sure about statisitics -- never got back my final exam -- but went into the final with 98.5% average. Pre-med microbiology I went into the final with over 100% average. Pre-med chemistry, around a 97-98% average. Urinalysis about a 95%. Hematology/coagulation I took a year early without the prerequisites and squeaked out an A with 94%. Right now in clinical chemistry, I have about a 100% average, with 100% on every weekly quiz, 97 on the 1st exam and 102 (bonus questions) on the 2nd exam.

Somehow I will get through this. But nothing so far seems to be making it easy, financially speaking. x(

[blur256]

108. Just out of Curiosity

Did your school tell you that there were no other alternatives for loans? The only reason I ask is that a friend of mine had that happen to her. She actually did have other options which I helped her with because her financial aid office was unfortunately too lazy or too busy to do so.

[northernlights]

109. no. I do my own research

I don't trust the university administration or financial aid office. I've been lied to too many times.

[blur256]

110. Don't blame you there...

and I work for a school! I actually think the office I work for now is great because they are honest and upfront with the students. But I left my last job at a state university because I did not like the way they treated students. Which is ridiculous, because that is what the financial aid office is for: to help students.

[intheflow]

95. Holy shit! I've never heard a word about this!!

I'm in default on my loans because they've told me the lowest payment I could make was $50/mo. I told them I'd pay $25, but they wouldn't take it. It had to be $50 or more, and too bad about those fees piling up. I am quite amazed and very, very happy to hear this!!

Thanks, Frenchie!! :bounce:

[Politicub]

97. The students who benefit will know

and they won't forget which admin gave them a hand with financing their education.

I wouldn't have been able to go to college without Pell Grants. And even today I always notice when there is news about the Pell program.

Freeing up additional funds that would otherwise line the pockets of lenders is fantastic, too. It means more people who need the money will benefit.

[Hutzpa]

98. This is Change We Can believe in.

:bounce:


:kick:

[louis-t]

99. Also going after gift card abuses by retailers.

So, you buy a gift card for someone. They don't use it for a year so some retailers expire it. They already have the money, it hasn't cost them anything except the cost of the card. They just ripped you off. Or, they don't tell you about a processing fee that eats away at the balance. This is the going in the right direction, but there should be no expiration. THEY ALREADY HAVE THE MONEY.

http://news.yahoo.com/s/ap/20100323/ap_on_bi_ge/us_fed_gift_cards

[stillwaiting]

100. This really is wonderful. Thank you for rightly bringing this to our attention today.

Now THIS is change I like to see.

This will actually help so many Americans reduce their costs to obtain an education.

One step in the right direction!

One day maybe we'll approach college and graduate school education as more of a right like Europe does.

It's ridiculous how much debt most of us have to incur to gain an education in this country.

[mstinamotorcity]

105. I am glad you posted this op

almost forgot about that little bonus package. I have two college kids and they have student loans this will help them.Also I have always though it was a shame that when a child gets through with a college education they are already in hock on average thirty or forty thousand dollars before they ever get employment.B-)

[LWolf]

111. I'm cautiously optimistic about this.

We'll see how it works with my own sons' student loans.