Albany, NY – PRESIDENT OBAMA ATTACKS COLLEGE AFFORDABILITY ISSUE -
President Barack Obama has been on the offensive recently, telling student-loan companies that he will fight them over his crusade to end bank-based lending. These Federal Family Education Loans (FFEL) make up a reported 75% of the student loan business, and he wants them stopped in favor of direct lending. Mr. Obama said lenders "have mobilized an army of lobbyists they are gearing up for battle so am I." At the top of this story, we also hear from a University of Maryland College Park student, who talks about her family's experience trying to pay for college.
Glenn Busby reports. (9:10)
WAYS TO MAKE COLLEGE MORE AFFORDABLE, Pt. 1 of 2:
REACTION TO ADMINISTRATION PROPOSALS TO DROP FFEL -
As we heard in our first story, President Obama spoke of doing battle with the private student-loan lenders. So now that we've heard his side of the issue, we found a spokesperson from the opposing side.
Brenda Dillon is a Primary Negotiator representing for-profit lenders on the Negotiated Rulemaking Committee for Higher Education at the Department of Education. Ms. Dillon is Vice President and Director of Product Management, Key Education Resources, KeyBank, in Ohio.
Next week, she's tells us about a monthly payment plan, rather than a loan, that could potentially reduce student debt by thousands of dollars.
Glenn Busby reports. (7:16)
**(Attention Listeners and Program Directors. For those seeking additional information about some of KeyBank's educational services, the direct link is:
VASSAR COLLEGE RECEIVES FOUNDATION GRANT TO TEST NEW COLLEGE ACCESS PIPELINE -
A combination of tougher competition and a weak economy are creating what some may term a "perfect storm" for college access and affordability.
But one college in New York has received a foundation grant for a three year project to try and help get top students from low-income families ready for a college education.
This special program links high schools in the Poughkeepsie, NY area with Vassar College in an attempt to smooth the transition from secondary to higher education.
Susan Barnett reports. (3:38)