Three proposals in the U.S. House of Representatives aim to make sure there is money for young people to borrow to cover college costs. New federal help is needed because lending for college education has gotten caught up in the larger lending crisis hitting home mortgages, etc.
More than 65 student loan providers have stopped or suspended their participation in student lending, among them the prominent Pennsylvania Higher Education Assistance Agency.
To offset this drought in funding, three proposals are before the U.S. House of Representatives. H.R. 5723 would give student loan lenders access to capital. H.R. 5914 would allow the Treasury Department to provide aid to loan originators. And H.R. 5715 would increase the amount students can borrow from federal loan programs.
The House should pass these initiatives, the Senate should follow and the president should sign them.
For middle and lower-income students - of which many are Luzerne County young people - loans are the only way they can pursue higher education.
It would be a shame if they were denied an opportunity to get a college education because of the mortgage loan crisis.
Source:-http://www.zwire.com/site/news.cfm?
newsid=19663629&BRD=2259&PAG=461&dept_id=456222&rfi=15 |
Students financial aid