This blog used to be about debt. Now it's about a few more things. But really, it all comes back to debt. Trust me.

Monday, December 4, 2006

Strong Words From Teddy

Wow, strong words from Teddy (I'm a Massachusetts native, so I can call him that) on the Student Loan industry.

"It's time to throw the money-changers out of the temple of higher education," thundered Sen. Edward M. Kennedy (D-Mass.), who is in line to become chairman of the Senate committee that oversees education programs.


This from an LA Times article. It looks like one of the Democrats' first priorities will be to reduce the interest rates on Federal Student loans. Not sure how it affects those of us who locked in a consolidation recently. Oh, and there is no word yet on how it will be paid for. The Dems promised not to increase spending without stating the source of revenue offset.

Look for one or both of these promises to be broken around Jan 30, 2007.

Here's the full LA Times article. A pretty good read.

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