More on the gov't takeover of student loans...

"Obama's Student Loan Grab Will Cost Jobs, Eliminate Competition And Grow Government"

If a private company looked to corner the market on student loans, they'd be hauled before Congress. But the liberals in this Congress are looking to do that just that, a move that will cost private sector jobs, eliminate competition, allow government to profit from individuals needing to borrow money for education, and potentially prove financially disastrous for taxpayers in the end.

Net net, need money to go to school. Good, sign here, we are all socialists, now.

Regardless, should Harkin and Obama succeed, all private lenders would be excluded from making government-guaranteed student loans. There will be no government-guaranteed loan option for students other than federal loans (and, as the Journal notes, “The remaining 20% of the market that is now completely private will likely shrink further as lenders try to comply with regulations Congress created last year.”)

Democrats claim the bill would save millions, but they fail to mention it will cost jobs — tens of thousands of private sector jobs — (as if we could stand to lose jobs right now). Aside from that, the bill would obviously transfer even more control from the private sector to the government.

The history of student loans reveals a troubled past in which losses were hidden and liberals have been trying to take over the sector for decades, just as they are trying to do with health care today...

Ultimately, something like this could lead to government, not you, or anyone else deciding whether or not your children, or grandchildren are able to attend college or university. One can only imagine the choices government might be empowered to make were that to eventuate down the road. Given government's continuing trend to always over reach, there's every reason to fear such a system coming to pass one day. A government controlled system is not what freedom and open access to education are all about. Not today they aren't, anyway. Stay alert and get involved where you can.
 
http://www.riehlworldview.com/carnivorous_conservative/2010/01/obamas-student-loan-grab-will-cost-jobs-eliminate-competition-and-grow-government.html