Pennsylvania Higher Education Assistance Agency will suspend all new student loans

[PA Democrat]

The Pennsylvania Higher Education Assistance Agency will suspend all new student loans on March 7 as a result of the national credit crunch.

<snip>

PHEAA is not the only student lender squeezed by the credit crunch.


Lobbyists for Sallie Mae and other lenders are urging Congress to take action to strengthen the student loan market, according to The Hill, a Washington-based newspaper. It reported Monday that more than a dozen auctions for bonds backed by student loans have failed in recent weeks, including some backed by federally subsidized loans.


If Congress fails to provide more aid and markets don't improve, all student loans could eventually disappear, Preston said.

http://www.pittsburghlive.com/x/tribunereview/news/mostread/s_554438.html

[acmavm]

1. Yeah, but keep shoveling out money to kill people.

[PA Democrat]

2. I know. How do we as a nation hope to compete globally when more and more

students find the cost of college out of reach? We are a shamefully stupid nation if we do not place a greater value on education.

[bdamomma]

5. yea, and other nations are stomping all over us in education.

so sad.

[n2doc]

14. And bailing out the big lenders like B of A/Countrywide n/t

[Donnachaidh]

3. the the reagan republicans can say MISSION ACCOMPLISHED

"If Congress fails to provide more aid and markets don't improve, all student loans could eventually disappear, Preston said. "

Why provide loans to students who come from families that cannot afford them? Let them go to the BANKS and then they'll be signing right up for the endless serfdom the bank shareholders want from the lower classes.

I say this as I look at yet ANOTHER pile of predatory lending mail sent to my 15 year old!

WAKE UP PEOPLE -- the class war is closing off ANY opportunities for our kids!

[PA Democrat]

6. I know. This breaks my heart. God only knows what rates the banks will charge to

lower income students. It's obscene.

[bdamomma]

7. it is a class war.

its the haves and have mores, against the disappearing Middle Class and Poor. Sickening.

[redwitch]

4. This is awful.

And now I am scared. My son will need a MEFA loan next year, his senior year. If Massachusetts does what PA is doing and he can't get that loan I have no idea what we will do. We absolutely cannot afford to pay his other expenses plus his tuition, we just couldn't make it. He works really hard at school and deserves to be there. I am terrified.

[PA Democrat]

8. It is a waste of talent to deny good students the opportunity to further their educations.

We are forfeiting our country's future.

[mike_c]

9. yet we have an apparently bottomless well of money for the pentagon...

...and military budgets. It is time to defund the MIC, folks.

[ConcernedCanuk]

10. Whaddya need colleges for anyways, there's always the Military ya know?

.
.
.

I hear they are hiring . . .

[jtrockville]

11. My PHEAA loan got me where I am today.

From welfare (as a child) to owning our home, 3 vehicles, and all our other possessions (without any debt!). I'm sad to see take this opportunity taken away.

[PA Democrat]

13. It feels like the "American dream" is dying.

College tuition is becoming unaffordable for far too many students. What a waste of talent and intelligence.

[Mnemosyne]

12. This is just fucking great. My daughter pays half her tuition with loans and has been talking about

joining the military because paying for college is so tough.

[The Backlash Cometh]

15. How sad.

[reggie the dog]

16. Student loans are shit

I have a friend who started selling weed at college to pay off his student loans. He did not want to get into huge debt. He made so many connections that he now makes an extra 50 000 us dollars a year, tax free, off of selling weed. His job, thanks to his degree, gets his 40 000 us dollars before taxes. Take my advice, grow the weed in your house and let your kid sell it to their buddies in high school or college to pay for their education. Keep the first 10 or 20 000 you make hidden at the kids grandparents house in case you or your kid get busted, that way you can pay for a lawyer. I personally got freed from a 10 year distribution of cannabis charge in Virginia because my 10 000 dollar lawyer said the correct 5 sentences. I was freed after not even 5 minutes in court. If you can pay the big lawyers you rarely do any time. If you grow a pound of weed in your house you sell it wholesale to your kid for a good price, 1000 a pound, once they are up in the game they can sell that same pound to a reseller for 3000 dollars. If you plant in the kids room once they go off to college you can reasonably pull in 10 pounds a year no problem. That is an extra 10 000 for you (only buy things in cash, groceries, etc. never using prefered customer cards that track you) and your kid can be making 30 000 a year. All untaxed. In Illinois you can have 50 plants and risk a 24 month probation with first conviction, dismissal of charges upon completion of probation. The second time you get popped just let your spouse take the 24 months probation then get out of the game. The system is stacked against us working folks, they only way the rich get ahead is by cheating, so fuck it, we should cheat too. Growing and selling cannabis is just about the least morally offensive criminal way to make tax free money.