One day and the crisis is solved!
"Cahill ends effort to bail out lender" by Beth Healy, Globe Staff | August 15, 2008
Massachusetts Treasurer Timothy P. Cahill yesterday said he was calling off efforts to assist the state's student loan authority, based on a college survey indicating most students have found other loan sources by now.
Cahill said he believes there is no longer a student loan crisis in the state, citing a poll of 41 colleges by the Association of Independent Colleges and Universities in Massachusetts that says 70 percent of schools each had fewer than 15 students unable to secure loans. No college said it had more than 100 students still hunting for financing.
"It seems like most of the students in the state of Massachusetts have gotten alternative funding sources," Cahill said. He said he would stop trying to persuade legislators to approve state backing for a $400 million bond offering by the lender, the Massachusetts Educational Financing Authority.
Well, it was DEAD ANYWAY!
"Two last-minute proposals to assist the authority were floated last week by Governor Deval L. Patrick and state Treasurer Timothy P. Cahill, but both appear destined for dead ends."
Yup, doesn't cost the treasurer much to put lipstick on the pig and lie, lie, lie, does it?
Yesterday, Cahill said he was relieved the state had not pledged funds for a cause that no longer appeared to him to be an emergency: "It's like Massachusetts is lurching from one crisis to another crisis, instead of managing their debt more proactively."
Yeah, I KNOW, I KNOW!! And so do regular readers of this Mass. blog!
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