Reply #11: NEVER understood the GSL system

[hollowdweller]

When I was in school in the late 70's and early 80's I had a National Direct Student Loan, some grants and lots of financial aid. Then when Reagan came in a LOT of the free stuff was cut and the part I had to pay more than doubled. I got a Guaranteed Student Loan.

Never quite made sense to me that the gov't was essentially assuming all of the risk but not making the money off it.

After I graduated it was REAGANS AMERIKA and there were no jobs.

I had 2 college degrees but the only job I could find was as a donut fryer. My girlfriend, now my wife and I had been a couple for several years but we both were living at home with our parents because that was the only way that we could pay off our student loans. By having virtually no living expenses.

At that time there were a lot of defaults on student loans so we both wanted to pay them off so we would not be used as an excuse by the GOP to cut aid further.

In my opinion I just don't see that the so called "free market" is doing what it is supposed to do. I would lilke to see the gov't COMPETE with private industry in the areas of home loans, student loans, and health care. It's obvious that consiously or unconsciously the business community has sort of engaged in a collusion to sort of keep prices higher or obscure the details enough to where consumers cannot discern the best deals.