STUDENTS NOT BANKS

Senator Begich believes the reform proposal would restrict students borrowing options.

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Senator Udall was identified as a ‘swing vote’ in favor of the compromise bill by Sallie Mae

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Meanwhile:

• University of Delaware Faces $5 Million Budget Cut, 250 jobs affected
• Budget woes force Delaware State to cut sports programs

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Senator Nelson opposes the bill because of the potential job losses at lending firms EduCare and Compass in his state.

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Senator Bayh was presented with over 186k signatures demanding he preserve jobs at private lenders in Indiana. He has cast considerable doubt on his willingness to vote in favor of the reform proposal.

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Senator Landrieu has fallen prey to lobbyist talking points and is claiming to support the compromise bill in favor of keeping jobs in her state.

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Senator Conrad is ‘on the fence’ about the proposal.

The Senator opposes passing the bill through reconciliation because he claims it does not meet budget targets for reducing the federal deficit. Although House leaders say the bill can be easily adjusted to meet those targets, Conrad wants to put this crucial bill off for another year.

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“In a testament to the sway that student lenders exercise over the Senate, it’s not clear that Democrats have the 51 votes necessary to pass the bill in its current form. Ben Nelson, the staunch friend of lending companies, is against it.” — TNR

“Nebraska is home to student lender Nelnet, Nelson’s top campaign contributor.” — The Nation

“Nelnet is also infamous for manipulating the federal government’s student loan subsidies to swindle American taxpayers out of $278 million….Nelson should be ashamed using Nelnet’s example to defend government subsidies for private lenders.” — New Nebraska Network

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Like his colleague from New Mexico, Senator Udall opposes cutting the banks entirely out of the lending process over potential job losses in his state.

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From the Nation: “Over the past year and a half, Sallie Mae… has spent some $5.8 million to lobby against Obama’s plan, enlisting powerhouse lobbyist shops like the Podesta Group to sink Democratic support for it. To date, Democratic senators such as Arlen Specter (Sallie Mae is based in Pennsylvania), Jeff Bingaman, Tom Udall and Ben Nelson …have all expressed opposition to the measure.

Scranton Times-Tribune: “Sens. Bob Casey and Arlen Specter should vote for students and taxpayers; they should vote for the reform bill.”

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Bob Casey has been busy trying to make Sallie Mae happy:

• Casey waters down Obama student loan plan
• Casey says he’s open to a “compromise” on student loans
• Casey submits “compromise” bill for CBO score
• Casey bill carves $4 billion out for Sallie Mae and other lenders
• Students pressure Casey on student loan debt

Philadelphia Inquirer: “If Sens. Bob Casey and Arlen Specter believe in making a college education affordable for more children, they won’t cave.”

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Senator Johnson is identified as a possible swing vote in favor of the Sallie Mae compromise.

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Along with his fellow Senator from Virginia, Senator Warner opposes the reform bill over potential job losses in his state

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Senator Webb opposes the reform bill because of potential job losses at companies stationed in his state

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