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Financial Aid in the News

Clinton Takes On Student Loan Industry (The New York Times)

"Senator Hillary Rodham Clinton had some tough words Saturday afternoon for the college student loan industry, saying banks and other lenders had 'ripped off' students with high interest rates and repayment plans that were onerous on recent graduates and their families," reports The New York Times. "'I want to get rid of the student loan companies,' Mrs. Clinton said at an event in Sioux City, as she laid out her college affordability plan in response to a parent's concern about high tuition prices. Mrs. Clinton's husband, former President Bill Clinton, battled the student loan industry in the 1990s as he championed the Federal Direct Loan Program, which eliminated for-profit lenders as the middlemen for students in that program. Mrs. Clinton also supports the direct loan program, and she has also called for a 'student borrower's bill of rights.'"

You can read the complete November 24, 2007 New York Times article on-line.

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