"Northeastern to alter loan program"
"by Peter Schworm, Globe Staff | March 17, 2008
Northeastern University plans to announce today that it will provide student loans exclusively from the government in an effort to ease students' and parents' anxiety over the availability of loans amid recent tumult in the financial markets.
The move is a major shift for the university and one that could herald a broader change in the source of education loans.
Northeastern officials said the move was prompted by the turmoil in the student loan industry caused by fallout from the subprime lending crisis. A number of commercial lenders and state agencies have announced in recent weeks that they will no longer provide federal education loans because of a deepening credit shortage and reduced government subsidies.
Un-fucking-real!!!!
They get all that bailout $$$ and still pull the plug!
The announcements have stirred widespread concern among college students and parents about landing loans for the fall, but most financial aid specialists say students will not have difficulty securing government-backed loans for the next academic year.
Northeastern officials said they believe moving to the direct-loan program, in which students borrow solely from the US Department of Education, will provide a more stable source of funding and simplify the often-confusing borrowing process....
The BANKRUPT FEDERAL GOVERNMENT -- meaning TAXPAYERS -- is going to take over?
But, but, but... the BANKS just got $200 BILLION so they would continue to MAKE LOANS!!
What the FUUUUUUUUUCCCCCKKKKK!!!!
And you think the government is going to simplify things?
More MSM shit shoveling!!!!!
The announcement coincides with a Senate field hearing held at the university today. The hearing, hosted by US Senator Edward M. Kennedy, will focus on college costs and access to student loans. Kennedy, chairman of the Committee on Health, Education, Labor, and Pensions, is calling for increased federal loan limits and expanded eligibility to reduce families' reliance on private loans.
"The ability of students and families to pay for college should not be determined by the quarterly earnings of banks and lenders," he said in a statement.
Northeastern's move "will help protect students, as the Direct Loan Program is insulated from disruptions in the private credit markets," he said.
On Friday, House lawmakers urged US Secretary of Education Margaret Spellings to ensure that the direct-loan program is equipped to handle increased demand for federal loans.
Students have increasingly turned to higher-interest private loans in the past decade to handle rising tuition costs. Private loans accounted for 24 percent of all education loans last year, up from 6 percent a decade ago, according to the College Board's latest survey.
But with the credit crunch making it harder to secure capital, some lenders are tightening eligibility or forgoing student loans altogether....
And they just got $200 BILLION of YOUR MONEY to keep loaning money!!
How you feel about FUNDING WARS and BAILING OUT BANKS while getting NOTHING in RETURN, 'murkn taxpayer!!!!
Students and parents have grown concerned as numerous providers of student loans have backed out of the industry in recent weeks....
Translation: They TOOK BAILOUT MONEY and RAN!!!!!
And talk about getting them when they are young:
".... Defense companies are reaching out to American students in the earliest grades.
Lockheed Martin is sending employees into elementary schools to tutor students in math and science and recruiting high school students to shadow Lockheed workers on the job. The company's engineers coach robotics teams, conduct rocket propulsion experiments for students and participate in mentoring programs.
Northrop Grumman has established a program called Weightless Flights of Discovery, which allows middle school teachers to experience temporary weightlessness on "zero-gravity" airplane flights that mimic how astronauts train for space travel.
Defense contractors also are trying to market themselves to job candidates with flexible schedules, tuition reimbursement programs and plenty of opportunities for advancement."
America is done, readers.
No hope for this country, not with the MILITARISTIC INDOCTRINATION of the KIDS!!!!
And we got MONEY for WARS, but nothing for the student loans, huh?
That the ONLY TIME EDUCATION matters to these shit fucks, huh?
Learning the TRUTH about life apparently doesn't count for shit!
