Commission: Private Loans are Not the Solution!
The Secretary of Education’s Commission on the Future of Higher Education has released the third draft of its report, and it includes a new and disturbing recommendation: push middle-class students toward risky private (or “alternative”) student loans instead of safer federal loans. This would directly undercut the Commission’s stated goal of decreasing student debt burden, because private loans can cost far more than federal loans and lack guaranteed borrower protections.
Read our letter asking Chairman Miller to withdraw this misguided recommendation. Then tell the Commission that private loans are not the solution – before they meet this Thursday, August 10!
To decrease student debt burden, the Commission should focus both on increasing grant aid and making loan repayment more manageable for all borrowers.
Tell the Commission that private loans are not the solution!
Read our letter to Chairman Miller
(This announcement was sent to the Project on Student Debt mailing list on August 7, 2006.)