[MAexile]

The smart ones (especially those which trained their students with marketable degrees) would use the loan pool to generate a profit and line up lenders to feed more students into their system. This is exactly the model used successfully by Hillsdale College (Michigan) and being considered by other conservative colleges such as Liberty (Virginia), Grove City (Pennsylvania) and Brigham Young (Utah, Idaho and Hawaii).

My oldest is a Grove City student. Their refusal to deal with the Federally backed loan system was a big reason I applied (light) pressure to go there.

[Vigilanteman]

Has GCC completed the process of kicking the federal loan program to the curb? Last I heard, they were still working on it.

If they have completely converted to the Hillsdale College model, then good for them! As you may know, Hillsdale's wildly successful model is now into its second decade. They have a pool of lenders lined up to give its students low interest loans plus a fund from alumni donations which renews itself for repayments. Conservative colleges teach character and, thus, their graduates are good risks for paying things back.