[Libloather]

What's next - 401Ks? I'm betting money on it.

[gorilla_warrior]

The federal government will now be able to deny loans to european-american male students based on “diversity” considerations.

[Lmo56]

So, if I want to lend college money to my Godson - am I a private lender and now blocked from doing so???

[the invisib1e hand]

Under the legislation, private lenders would be blocked from the market for originating loans, but private banks and lenders still would be able to bid for a limited number of contracts to service loans after they are made by the government.

What's the purpose of this?

[hinckley buzzard]

Applying for student loans this summer has been a mess. Used to be able to google up Key or Citi or whomever, and apply for a loan. Now, no can do, without first filling out an intrusive gubbermint form (FAFSA) that smells like a tax return, and is just about as long. And that's not a loan app, that is merely the gubbermint gatekeeper letting you talk to a bank after advising the gubbermint of details about your financial life.

And it will only get worse, unless we stop this disease. Kenya's greatest gift to the world since the mau-maus.

[musicbymuzak]

If Zer0 wants my student loans he can have them. I’ll just consider it my bailout. Thanks you guys!

[4Speed]

Ping

[torchthemummy]

Under the legislation, private lenders would be blocked from the market for originating loans, but private banks and lenders still would be able to bid for a limited number of contracts to service loans after they are made by the government.

F@#k that! Banks should just stay away; there is no sense in taking on risk especially if they are now overseen by the government to the nth degree. Why get stuck with bad loans that are notorious for being defaulted on.

As to the Dems and O doing this, this is the same bs that people that support publicly-financed political campaigns like - making up the rules for those that qualify for loans and grants. Gender, race, sexual orientation will all be used to skew the system and reward many students that will drop out because they were "over -challenged)

[torchthemummy]

"This plan would end the billions upon billions of dollars in unwarranted subsidies that we hand out to banks and financial institutions -- money that doesn't do anything to make your loans any cheaper," Obama said. "Instead we're going to use that money to guarantee access to low-cost loans no matter what the economy looks like."

It would seem to me that this move will strengthen any court case that challenges the institutionalized bias in college hiring towards professors, administrations etc. bias towards the Dems (far left).

[sassy steel magnolia]

doesn’t this just go right along with the Serve America Act that he (Pres O) recently signed in Spring 09? If I recall, that Act sets up students for “voluntary” service to specified activities, none of which are religious in nature.

If so, then he’s just rolling right along with his plan to have mandatory service for all Americans between ages 18 and 45 (could be wrong on the ages)...maybe he’s hoping/planning for these young people to be part of his civilian force?

Just thinking aloud...

[Logical me]

Somehow I get the feeling that this is the start of brown shirts. Suppose in the fine print they only give the student a month to pay the loan back or they can serve 4 years in his “brown shirt” army. Could this be the real motive. Could somebody read the bill, or could King Obama just tack this on years later. This is just how I feel since everything King Obama does has a corrupt motive behind it. This is just food for thought.