A Sallie Mae Defender Strikes Back
April 27, 2010
Stephen Spruiell objects to my post about student loan reform: I will repeat (for the five readers who still care about this topic) what I wrote in this post: 1) Chait, despite having written a great deal on the subject, still does not understand how the old system worked (he thinks the banks were allowed to reap windfall profits when their borrowing costs fell; they weren't).
Sallie Mae: A Conservative Jobs Program
April 27, 2010
President Obama's student loan reform has mostly escaped attention because Democrats packaged it along with health care reform. But it's a BFD in its own right. Under the old system, the government would backstop private loans to students, creating a no-lose income stream for banks. The reformed system cuts out the middleman, saving tens of billions of dollars for the government. I call that a win. Conservatives, though, convinced themselves that defending subsidies to private lenders was some kind of free market crusade.
Taking An Incomplete
April 13, 2010
By most accounts, the fourth week of March was a triumph for the Obama administration. After months of wrangling, Congress finally passed health care reform, and the president signed it into law. In the same budget reconciliation bill that sealed the health care deal, Democrats also overcame Republican defenders of corporate welfare and improved the nation's main federal student loan program.
One Issue Where Obama Really Is Winning
October 07, 2009
Among President Obama's attempts to pass far-reaching liberal legislation this year, his signature plan to overhaul the way students receive college loans has probably received the least attention. Yet, right now, it's arguably the issue on which Obama is closest to achieving an unvarnished success. Last month, taking cues from Obama, the House of Representatives passed the Student Aid and Fiscal Responsibility Act, which would alter the way the government funds Pell Grants and other student loans.
The Perils Of Globalization
December 18, 2007
I am all for globalization, and I believe that -- whatever disruptions it causes in the lives of peoples and in the conditions of their societies -- it will ultimately benefit all mankind.Of course, many individuals will pay for this progress with lower pay and fewer respectable jobs so that others elsewhere will get higher pay and real jobs that they had not seen before.There will also be some comedies.I am a co-signer for three student loan borrowers through Sallie Mae. One of them, a young man from Czechoslovakia, pays his debts on time, and he is also almost debt-free.The second, from New
February 20, 2006
When scandal-plagued Tom DeLay finally gave up his quest to regain the leadership of congressional Republicans, the preternaturally tan Ohio Republican John Boehner sat down and drafted a 37-page political manifesto to win the votes of his colleagues. Boehner, himself long known as a friend to K Street, issued a tempered critique of the Republicans’ sale of indulgences to lobbyists like Jack Abramoff.