It all is a scam. They always advertise the importance of going to school and fail to give you the fine print until after the fact. The government is on its own get rich quick scheme.

How can the federal government fund the billions in loan? Several factors that the CBO left out: 1. The U.S. Government is bankrupt - we don't have the money to fund the loans, we'd have to borrow the money to fund the loans which would cut down on the "savings." 2. Lenders PAY the government an origination fee for each loan, borrowers PAY the government an origination fee for each loan. 3. Due to "special allowance" provisions, currently lenders have to return about half the interest borrowers pay to the feds. The CBO ignored these factors.

"They are only trying to make things fair. After all, those middle class students have advantages over lower class students......
By perdidochas"
This is meant to be sarcasm,right?
Having any advantage over someone else at an early stage of your life should not be cause to make you disadvantaged for the entirety of the rest of your life.The middle class has never and will never get the breaks that the upper or lower class get.They are left out of every program to get a step up.The rich don't have to worry about paying for education.The poor don't either if they get the benefits of free or reduced programs.So they all get out of school,making the same salary.Only now the middle class student is the only one saddled with paying for the full student loan.....Fair?? I don't think so...

This is just another back road to socialism. If the people won't go for it, the government will just create and or expand existing programs that give one class of people things for nothing. Meanwhile, people who work hard, sacrifice, and actually pay for these programs are barred from availing themselves to the programs. The result is that the hard workers who make 3-5 times what the poor-uneducated worker/welfare queen will also pay 3-5 times more for anything that the government can control.

Looks like this program (read government interference) will discourage deserving hard-working students in favor poor students who may not exactly be college material. I saw students like this in college and they seldom made it past their freshman year.

we need only to look at the twenty year past of our president and the admiration of the Congressional Black Caucus for Fidel Castro to see how this direct government education funding to "NEEDY STUDENTS" is a nothing more than a "PUNITIVE LOCKOUT" that can legally be used to promote discrimination and class warfare under the disguise of "FAIRNESS"

Another aspect that I see in this article is the fact that the government is still without a clue as to spending.If they do anything that saves money, why in the world do they think they need to take these saved funds and spend it on something else that was not in place before?You do not save money if you still end up spending it.Worse if you spend it on a new program or expand an existing one.Will they never understand basic economics?

Neal, everyone has to pay back student loans. Even people who declare bankruptcy. If the government wants to pay them back well I would rather the money be going to education than to Iraq

I finished my PhD last spring and I feel like a chump for repaying my student loans (at a rate of 6.8% for quite a large chunk of it). It'll take me the next 10 years (or longer) to repay. I never qualified for a Pell grant because my parents had jobs and FAFSA ruled me out based on their income, even though they didn't help with tuition. Good thing I have a degree in engineering, or I'd be screwed for life. Thanks government, you really know how to support and encourage higher education.

Heaven forbid we teach kids responsibility and let them pay back the money they used to get their education! Why does it have to be one or the other?