<p>"Additionally there are upcoming exposes about the private/subsidized aspects of the student loan industry which may be very influential in cleaning up some of the abuses. Once these are published even the most serene (or paid off) public official will not be able to ignore the political consequences. Especially as the upcoming exposes will be published in mainstream books rather than in specialist press such as “The Chronicle of Higher Education”</p>
<p>Can you shed any more light, or go into more detail about when/what is about to happen?</p>
<p>However sometime in the early spring of '09 A. Collinge is scheduled to publish a book about the various moral mires of the student loan business. He’s the founder of one of the more outspoken groups trying to address the problems which have resulted from handing educational funding over to certain of these corporations. </p>
<p>And having been on such as 60 minutes, and being fairly media savvy he has enough of a profile that the content of his book will get out. It’s much harder for those working in academic journals (which fairly few people read) whose employers are much more vulnerable to inside pressures from the lobbyists and lawyers of the various less ethical and powerful SL companies. </p>
<p>Another factor will be pressures arising from within our very troubled economy. Basically what happened in the subprime debacle will happen in the SL arena, a collapse. And for the same reason namely predatory loan and fee practices having gone well beyond the ability of their clientele (nee’ victims) to pay. </p>
<p>So there will be several million people, who have tried to pay the tolls, who will not be able to do so because of job loses, investment values plummetting and etc. And they will not be pleased to find that the same companies which have charged them outrageous fees, and applied incredibly abusive pressures when they could not pay…are now begging silk hat in hand for bailout money from the government.
Likely there will be enough public outcry once these bailout amounts are known, to force concessions from the edudebt corporations. Somewhat similar to the agreements forced onto Citi to renegotiate over priced mortgages…</p>
<p>Additionally some colleges have seen the tunnel collapsing and have gone overtly into the federal direct loan program.</p>