Friday News Grab Bag

(just throwing this stuff together here…)

The Philadelphia Inquirer ran a half-page ad in its Nation and World section yesterday from a group called America’s Student Loan Providers in which it advocated the Nelson-Burr Amendment, which mcjoan at The Daily Kos refers to here as “a big gift to the student loan industry.” As mcjoan notes…

The amendment would reduce funding for by something like $4.2 billion for the amount of money that the Senate bill would devote to students receiving the maximum Pell Grant. The neediest students would lose out on an average of $300 in increased scholarship aid. The lending industry doesn't need the protection of the Nelson/Burr amendment. It's doing just fine.

The House action was a response to cleaning up the mess in the $85 billion (!) student loan industry, highlighted by the recent resignation of Theresa S. Shaw, the individual responsible for overseeing the program, no doubt due to lax oversight of lending practices (“Terri has told us she plans to take some time off,” huh? Too funny).

It was also a response to the coziness of Rep. John Boehner with Sallie Mae, this country’s largest student loan provider. As noted here (regarding legislation Boehner supported)…

Historically students were permitted to consolidate loans only one time in order to take advantage of lower interest rates. If lower interest rates subsequently became available, students were permitted to move their consolidated loans to the Department of Education’s Direct Consolidation program and then were given a second chance to take advantage of lower interest rates by reconsolidating again with a private lender. The ability to do that was removed by the budget bill (that passed Congress last year). That makes students unhappy since they would like to think they are just like any other borrower who can always refinance to take advantage of reduced interest rates.

Author Christopher Brauchli is a bit tongue-in-cheek here; also, why did I know that the “Nelson” in this (as opposed to North Carolina Repug Richard Burr) was Ben, possibly the lowest Dem this side of Joe Lieberman?

Move On is threatening Repugs supporting the Iraq carnage with “political extinction” (yes, it’s another pitch for money – sorry). To learn more, click here.

And high on that list, by the way, should be Our Man Arlen Specter in PA for saying that the Reid all-night session to force a vote on Iraq troop withdrawal measures was “a waste of time” here.

Sorry that Valerie Plame’s civil damages trial was dismissed against Deadeye Dick and company; good luck on the appeal (and a great, pithy commentary by Bill Maher in a related vein appears here).

And of course, as always, Impeach Bush, Impeach Bush and Impeach Bush.