The Coalition for Better (?) Student Loans
We ran across an interesting press release today from an organization called 'The Coalition for Better Student Loans' who claim they are, "A unique coalition of financial aid administrators, parents, loan providers and organizations representing more than 2,000 colleges and universities today proposed a five-part plan to increase access to higher education by bolstering the federal student loan program."
One the contact people for this organization is Dallas Martin ( NASFAA President), whom you may all remember from his testimony before the House Subcommittee on 21st Century Competitiveness, who actually stated that any consolidated loan should carry a HIGHER interest burden under the guise of, "To retain a consolidation loan program that can be used as a refinancing tool or to expand refinancing options will cost the government large amounts of resources." Apparently Sallie Mae has become a government institution when we weren't paying attention, so you obviously won't be surprised at all to find out that the "Coalition for Better Stuent Loans" is PARTNERED with the US's leading Student Loan lender? That's right, Sallie Mae is listed amongst the group's affiliations on their website.
That's not a conflict of interest right?
Comments
Ah yes, Dallas Martin, whose testimony basically said screw the students who've already graduated, as soon as they walk out the door, we no longer care about them.
--D
Posted by: Diana | February 10, 2004 10:23 AM
Conflict of interest at it's finest. Problem with our government now is - "He who has the gold makes the rules." That's all their doing here. Guaranteed loans with twice the interest of home mortgages, what a country....
Posted by: Steve | February 10, 2004 07:58 PM