STUDENTS NOT BANKS
President Obama’s direct student lending plan must be passed as soon as possible to remove middlemen bankers and provide our schools and students with the money they urgently need this year.
President Obama’s plan for direct student lending would save $87 billion dollars going to subsidize the losses of Wall Street banks and give money to schools. But unless the Senate passes it at the same time they deal with health care, it won’t pass for another year.
The Student Aid and Financial Responsibility Act was included in Senate reconciliation instructions for 2009, just like health care. It can pass the Senate with only 50 votes, but only if the House and Senate act now — at the same time they vote on health care.
Tell Nancy Pelosi and Harry Reid to pass student loan reform now.
Jamie Dimon of JP Morgan (above) made $17 million last year. Albert Lord, head of Sallie Mae, built a $30 million golf course in his back yard with profits he made from jacking up student loan fees that students will spend the rest of their lives paying off.
Sallie Mae got $21 billion in government subsidies last year — then turned around and spent $3.48 million on lobbing to protect their sweet deal.
Enough is enough. Tell the House and Senate to pass student loan reform now.
Stop the banks from profiting off our students.
If we act quickly to pass direct student lending, we can save over $4.7 billion for schools in this year alone.
President Obama’s direct student lending proposal, or HR 3221, would cut out the banks as middle-men in the student lending business, saving billions of dollars in education and making higher education more accessible by lowering costs.
Explore our site to see how Obama’s direct student lending proposal will:
- increase the size of PELL Grants over 10 years
- give $4.7 billion to State education programs this year
Learn how the gigantic student lending industry:
- consists mostly of the same bailout bankers that stole millions from taxpayers in 2008
- makes billions through fee hikes and then charges taxpayers when student borrowers default.
For press inquiries,
please contact Alexander Howe at (201) 493-1027
or at alexanderhowe [at] gmail [dot] com.