Comments on: Carolyn Karno on the Problems in Eliminating FFELP http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp Answers to all of your questions about student loans. Sat, 28 Jan 2012 04:19:31 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Moveontonumber2 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp/comment-page-1#comment-1394 Moveontonumber2 Wed, 10 Feb 2010 03:59:02 +0000 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp#comment-1394 The Federal Loan program is predatory lending on individuals that can't afford to go to school due to the high cost of a college education. It isn't regulated and if you fall into hard times, You lose ALL your rights. You WILL be Garnished, you WILL lose your rights to ALL Federal AID including Social Security, Medicad, and any refund of taxes the government has overly withheld. Its the easiest way the Government can enslave you into a debt trap. Stop the unregulated Predatory loans! The Federal Loan program is predatory lending on individuals that can’t afford to go to school due to the high cost of a college education. It isn’t regulated and if you fall into hard times, You lose ALL your rights. You WILL be Garnished, you WILL lose your rights to ALL Federal AID including Social Security, Medicad, and any refund of taxes the government has overly withheld. Its the easiest way the Government can enslave you into a debt trap. Stop the unregulated Predatory loans!

]]> By: Moveontonumber2 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp/comment-page-1#comment-1393 Moveontonumber2 Tue, 09 Feb 2010 09:46:36 +0000 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp#comment-1393 Not to mention That the Interest and penalties end up costing the borrower twice as much as their original principal. Who gives a 17 year old with no credit a 15,000 dollar loan? Is that responsible? Its the same as the housing industry BUT there is no bankruptcy. Even worse in my opinion. Not to mention That the Interest and penalties end up costing the borrower twice as much as their original principal. Who gives a 17 year old with no credit a 15,000 dollar loan? Is that responsible? Its the same as the housing industry BUT there is no bankruptcy. Even worse in my opinion.

]]> By: theloangeek http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp/comment-page-1#comment-1392 theloangeek Tue, 09 Feb 2010 04:36:29 +0000 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp#comment-1392 I appreciate your frustration, but this is factually incorrect. FFEL is regulated by the same legislation and guidelines for handling defaulted borrowers as the Direct Lending program (which the government is attempting to make the sole provider of federal student loans). These actions may be taken for defaulted borrowers even under the current "reform" plan. This change does not address that or make loans more affordable for borrowers. But thank you for your comment and interest. I appreciate your frustration, but this is factually incorrect. FFEL is regulated by the same legislation and guidelines for handling defaulted borrowers as the Direct Lending program (which the government is attempting to make the sole provider of federal student loans). These actions may be taken for defaulted borrowers even under the current “reform” plan. This change does not address that or make loans more affordable for borrowers.
But thank you for your comment and interest.

]]> By: studentloanreform http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp/comment-page-1#comment-1391 studentloanreform Sun, 07 Feb 2010 00:49:08 +0000 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp#comment-1391 The FFELP has bred such corruption that the public has turned against it. Even in your organization: All six governor-appointed board members of the Connecticut Student Loan Foundation were dismissed ter state auditors found seriously mismangement of funds. There is no competition where a school has a preferred lender list. We'd fight for you if you agreed to NO preferrred lender lists and force reconsolidation to be enabled for any credit worthy loan holder - but you won't. The FFELP has bred such corruption that the public has turned against it.

Even in your organization: All six governor-appointed board members of the Connecticut Student Loan Foundation were dismissed ter state auditors found seriously mismangement of funds.

There is no competition where a school has a preferred lender list. We’d fight for you if you agreed to NO preferrred lender lists and force reconsolidation to be enabled for any credit worthy loan holder – but you won’t.

]]> By: studentloanreform http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp/comment-page-1#comment-1390 studentloanreform Sat, 06 Feb 2010 16:07:26 +0000 http://studentloanquestions.org/student-loans/carolyn-karno-on-the-problems-in-eliminating-ffelp#comment-1390 Let's not forget the corruption that the subsidies fund. The following student aid administrators got into more than a little hot water for taking kickbacks and other inducements from the student loan industry - most lost their jobs: Ellen Frishberg - Johns Hopkins Catherine Thomas - USC David Charlow - Columbia Lawrence Burt - University of Texas Walter Cathie - Widener University Tim Lehmann - Capella University Daniel Pinch - Emerson College Let’s not forget the corruption that the subsidies fund. The following student aid administrators got into more than a little hot water for taking kickbacks and other inducements from the student loan industry – most lost their jobs:
Ellen Frishberg – Johns Hopkins
Catherine Thomas – USC
David Charlow – Columbia
Lawrence Burt – University of Texas
Walter Cathie – Widener University
Tim Lehmann – Capella University
Daniel Pinch – Emerson College

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