"Loaning directly to students while reducing the amount a student is required to repay will actually encourage colleges and universities to increase tuitions even faster, as students will be more willing to assume larger debts which they are not legally required to repay.
Not only will this bill cause tuitions to rise faster, but contrary to Obama's claim, it will substantially increase the cost to taxpayers who will be forced to pick up a much larger share of inflated tuitions and absorb bigger losses on defaulted loans."
in Capitol Watch
Peter Schiff`s comments on the economy, stock markets, politics and gold. Schiff is the renowned writer of the bestseller Crash Proof: How to Profit from the Coming Economic Collapse.