Tuesday
Mar302010
Student Loan Reform Ends 'Sweetheart' Deal For Banks, Says Obama
Staff
President Barack Obama touted the benefits the Health Care and Education Reconciliation Act will bring to the U.S. education system during remarks at a Virginia community college late Tuesday morning.
"For almost two decades we've been trying to fix a sweetheart deal ... that essentially gave billions of dollars to banks to act as unnecessary middle men in administering student loans," Obama explained. (0:14)
Listen
"For almost two decades we've been trying to fix a sweetheart deal ... that essentially gave billions of dollars to banks to act as unnecessary middle men in administering student loans," Obama explained. (0:14)
Listen
Reader Comments (1)
Securing a loan is a good idea especially if it is taken for something important. How to use the loan is a bit tricky since with a lot of money at your disposal, chances of spending it without a good plan are very high.