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SINGLE PAY LOAN SYSTEM MAY HELP OUT STUDENTS NEWSOK COM
Single-pay loan system may help out students Dear Mr. Berko: I understand that the federal government is going to eliminate all student loan sources and make the U.S. Government the only source for student loans. This single-pay system scares me and will make the student loan process more expensive and difficult. Who can I write to so I can voice my objection? It s government-meddling decisions like this that increase the costs of college, like the single-pay health care system that will increase the cost of health care. G.E., San AntonioDear G.E.: One of the major reasons that college costs are so high is that there are so many funding sources available to students to pay the annually increasing college costs. In other words, the huge amounts of money available encourage colleges to increase their costs. Consider the concept of liability insurance. If you have $1 million of coverage protection and a damaging event occurs, the lawyers will sue you for $1 million. But if you have $100,000 of coverage protection, these latrine lawyers will sue you for $100,000. College costs increase to absorb the amount of money available. Our medical system is another perfect example. This is why colleges can spend so much money on sports, myriad sports facilities, huge multimillion-dollar student-union buildings, private jets and administration offices equal in splendor to a king s palace. This is why colleges have employment ratios of one employee for every five students, hi...[more]
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