Rejoice, fans of social and educational equity: the justice department has just laid the smack down upon those “preferred lenders” subsidized by the federal government. This probably won’t result in the kind of nationalized student loan program alluded to by top presidential candidates, but it’s a sign that student loans could become a lot dicier over the next few years. Increased oversight and pressure from progressives to expand federal aid could clash with Big Finance’s interest in continuing to rip off err serve its student clientele–especially if a pro-market Republican is elected president. And this will all trickle down to Fair Alma, where developments on the federal level could determine whether we go the same direction as Harvard and Yale.
Monday, January 28, 2008
Loan scandal officially over!
By: The Commentariat at 4:18 pm
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Loan scandal officially over!
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