Shelf Life Has Expired!

Helping students receive a higher education in America can be trace all the way back to Harvard in 1643 when a 100 English pounds was contribution by Lady Anne(Radcliffe) Mowlson  designated as an endowment fund for needy men wanting to attend Harvard. Radcliffe College was later named in her honor.

Fast forward to the GI Bill and then the start of our student loan program we know today.

The problem I see with the current student loan. There are so many layers that you have to go through
and the qualifications for the loans are outdated.

We have allowed the our politicians to give subsidies to for-profit schools that are more interested in profits than their students In 2009 $4.2 billion was spent on marketing, with  pre-tax profits 3.2 billion,but only $3.2 billion on instruction. Data from the Senate Report lead by Senator Tom Harkin

The whole student loan system is broken. The student loan program at this point is like a run away train it's going to be very hard to stop it. Our President and Congress need to slowly change the student loan program over to loans coming directly from the schools(Harvard endowment estimated is at $36.5 Billion in 2014) fund their loans, with others following suit or scholarship program based on merit.

I know this is going to be a bitter pill to shallow, but changes are going to have to be made if we are to continue to provide a college education for our children.

Universities and  Colleges need to become self sustainable starting their own nonprofit bank to fund their students at low fixed rate loans. I have mention Harvard with an estimated $36.4 Billion endowment would be a logically choice to create the blueprint for all colleges, and possibly  non-profit local community bank/lender for  again low fixed rate student loans.

Student loans done though Federal and Private banks/lenders in the current form are all about the profits not the student. Done on a smaller scale there can be checks and balances, and set up for the sole purpose of providing low fixed rate student loans. The huge salaries, bonus and profits the shareholders demand will no longer control student loans that continue to drive student loan even higher.

We have the technology today to provide this type of loan done more on the lines of a car loan
5 years $300 monthly payment. This will allow our graduates to pursue their dreams and would
be a true stimulus program that is based on success and not failure of the current student loan system .

There are simple common sense solutions to the student loan debt crisis.

We must remember America future is dependent on our children success