The President's plan, although touted as a means of promoting higher education, is not. The plan does not reduce the cost of student loans for a single student. Students and parents need to know that under this proposal, the government's profits on student loans borrowed by middle income students will be used to finance other student aid.
The Consumer Bankers Association’s Director of Government Relations, Marcia Z. Sullivan. From the Consumer Bankers Association’s press release, “CBA Statement on President’s Student Loan Plan”.
Friday, April 24, 2009
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