student loans - Hong-Van Nguyen English Composition 102 MWF...

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Hong-Van Nguyen English Composition 102 MWF 9:00 04/13/07 Student Loans The federally subsidized student loan industry contends that it brings choice and competition to the world of university finance. With many private firms lending money to college students, the argument goes that schools get to choose the lenders that offer the best services at the best rates to recommend to their students. With guidance from their universities, students can sift through multiple options to find the loan packages that suit their needs. But there is a widening scandal involving student loans. Some private lenders offer colleges stock shares for listing their companies as the schools’ “preferred lenders.” After reading four different editorials on the subject matter, it can be concluded that all the authors held similar viewpoints, but use different approaches. They all feel that the government needs to make it illegal for colleges and universities to accept anything of value from lenders. The government should also require universities to choose preferred lenders through an open process that guarantees the best rates and treatment for student borrowers. An editorial in the New York Times starts out by discussing how the scandal came about. New York’s attorney general, Andrew Cuomo, began to investigate the troubling, and possibly illegal, payments to universities that steer students to “preferred”
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This note was uploaded on 04/12/2008 for the course ENGLISH 102 taught by Professor Brittan during the Spring '07 term at Harrisburg Area Community College.

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student loans - Hong-Van Nguyen English Composition 102 MWF...

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