Monthly Archives December 2012

LEHMAN: Obama’s student-loan repayment racket

Author : Philip Lehman IV

As a newly minted physician, I recently amassed more than $240,000 in loans to pay for medical school. Paying off those loans is hard. As borrowers are discovering, the U.S. Department of Education’s illogical lending policies make student-loan repayment substantially harder.
The student-loan landscape changed drastically over the past five years. Until recently, students could borrow federally guaranteed money, but they did so through a host of private lenders. Options — and competition — for lenders were plentiful, ranging from giant, publicly traded companies to small, nonprofit state partnerships.
However, with amendments made in 2010 to the Higher Education Act, the U.S...

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