House Bill Takes Control of Student Loans

The House voted on and passed a bill that would do away with private lenders in the student loan business and put the government in the driver’s seat. The bill if passed by the senate would end subsidies for private lenders and would increase Pell grants for needy students, along with other changes to the student loan system. Initially it has been reported that if the government takes over the student loan programs it could result in saving taxpayers over 80 millions dollars, which could be used to fund college loans and grants to students.

The bill isn’t going to make college cheaper, necessarily help pay off loans, or drastically increase Pell grants because college costs rise faster than Pell grants, but it could go a long way in assisting needy men and women enter college to pursue their dreams. It would change a system that is complex and wrought with fees and interests and simply give young men and women the one thing they ask for: a chance. Government loans were four times less than private lenders last year, so if the bill passes the complexity and strain on the average student seeking assistance could be cut in half and open up more funds as well.

People do voice their concerns about the government taking over another industry, especially one like the student loan system because if the only loans and grants are coming from the government then what’s to stop them from further regulating who goes to what college and what they study. Others are concerned about the job loss this bill would create to the private lenders. On the other hand, proponents of the bill say that if the student loan bill passes it in no way stops private lenders from continuing in their student loan programs, they just go on without subsidies.

The repercussions of the bill are yet to be determined but with the bill on its way the senate where its fate is very uncertain, business could continue as usual in the world of student loans or it could be changed either for the better or worse.  As students get back to class it is true that some may be looking to upgrade their tablet or laptop.  Some may even start their search for Stockton Sears Presidents Day Tire Sales 2012 in hopes of saving money.  All college students struggle with vehicle expenses and it might be smart to take advantage of major sales and deals.

As we get closer to April 17th it will also be true that students must file their taxes either online or via the mail.  Some of these students may look for a Turbo Tax Form 1040EZ Blank Printable Online 2012.  Remember that all students will be able to find every single tax form they are looking for free online at the IRS.gov website.  There is no reason that students should pay for tax forms right now.