President Obama continues to follow his agenda for change.  This time his agenda has pit him against some of the most powerful private student lending institutions.  These are some of the same institutions that our government saved from collapse.

Basically, the Obama administration wants to implement new ways to make money available to some of the nation’s poorest students.  Seems fair, even if it puts a dent in the wallets of some of the private lending company CEOs.  In 2008, the CEO of Sallie Mae made more than $4 million dollars.  His lending company lost millions.  A need for change?  Let’s see if our Congress agrees with Mr. Obama, or the private lending Lobbyists.

Perhaps in addition to arguing about how to make money available to our poorest, Mr. Obama and Private Lending should also consider how to provide middle class families the low cost school loans they need.  Seems absurd that most families and/or students are strapped with upward of $100k in college loans at 6-7% interest upon graduation.  With a burden like this, it’s no wonder why families and graduates must curb spending and are unable to help re-start our economy.

Is “Change” the answer?

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