Blog 2 Article

I found this article in the Chicago Sun Times worth reading because I like most of my student colleagues have to rely on federal aid to continue to go to school. This article talks about cutting back on private student loans and expanding government grants. I personally don't look forward to paying on my student loans when I graduate because of the interest that accrues over the years. So if the government can find a way to increase grant money and save taxpayers money I am all for it. But some see it is wrong to put the government in total control of student lending especially those private lenders, such as Sallie Mae, the biggest student lender. If Sallie Mae were to be removed than that would create job losses. Currently, private lenders employ more than 30,000 people whose jobs depend on the subsidized loan program.
On the other hand putting the government in charge of all federal loans would save taxpayers money. The money would boost Pell Grants for needy students by increasing the maximum grant by $1400 to $6900 over the next decade. Even though Pell Grants would increase it doesn't help college cost, nor does it make loans cheaper or even help pay them off but if will help keep interest rates from increasing. So I guess we can't have it all but if the government cand find a way to make college more affordable why not let them?