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McDonnell asks Obama to reconsider student loan proposal

Anita Kumar

Gov. Bob McDonnell penned a letter to President Barack Obama this week urging him to reconsider his proposed changes to the student loan program that the governor says could cost "hundreds of jobs" in Virginia.

McDonnell (R) says the proposal will impose unfunded federal mandates on public and private colleges and universities, eliminate jobs and "result in disruptions in the delivery of critical funding for students in the fall of 2010."

Obama has proposed ending private industry involvement in new student loans. Instead, the federal government would be the sole provider of student loans in the United States.

We hear the letter was sent to help Reston-based Sallie Mae, which is trying to bring more than 1,000 more jobs to Virginia and that U.S. Sens. Jim Webb and Mark Warner are also on board.

The U.S. House approved a bill implementing the president's plan, but it has yet to pass the Senate. A day after McDonnell sent the letter, Obama mentioned the legislation in his State of the Union address.

Read a copy of McDonnell's letter here.

By Anita Kumar  |  January 30, 2010; 6:15 PM ET
Categories:  Anita Kumar , Barack Obama , James Webb , Mark Warner , Robert F. McDonnell  
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Comments

This is interesting. Mickey D cares about students getting loans? Of course not.

He intends to impose draconian cuts to higher education which will force colleges and universities to raise tuition 30-40%.

Students will be the ones to pay this "education tax" to balance the state budget. It's the most regressive tax hike there is, imposing it on those who are least able to afford it and shifting the blame for this tax hike away from the Republicans who impose it to universities who are stuck implementing it.

He cares about creating jobs? No way. He's slashing the jobs at all schools and universities in Virginia through forced retirement, closing positions and cuts so deep departments at colleges cannot afford to hire desperately needed staff.

Spare us the crocodile tears.

The Federal Direct Student loan program is extremely well run, very easy to work with through an excellent online, paperless system that is fast and user friendly. And it doesn't try to trick students into buying things they don't need and that are not in their best interest.

Sallie Mae, on the other hand is predatory and profits by being a middleman in a transaction that needs no middleman. It just collects huge fees to supply government guaranteed loans. That's purely parasitic.

Posted by: thuff7 | January 31, 2010 11:27 AM | Report abuse

Furthermore, WTF is Mickey D doing entering national politics when he has yet to do any real governing in Virginia? He has asked for more time to come up with his budget changes to find $2 billion in new cuts. So the whole state must wait for him to do his national politicking while the General Assembly--which is only in session 60 days this year--sits on their thumbs waiting for him to do his job.

Two weeks into his term, it is patently obvious that this man is using Virginia as a stepping stone into a national political career, and anyone in Virginia who thinks he has your interest at heart should be drug tested.

Posted by: thuff7 | January 31, 2010 11:32 AM | Report abuse

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