believe it or not there is another takeover

[wakeupamerica]

http://www.dailylocal.com/articles/2009/09/21/opinion/srv0000006427244.txt

We're all painfully aware of how the government in the past year has dangerously inserted itself into the financial industry, the auto industry, and is now looking to do the same with health care. This week, however, we saw another government takeover that received very little press. Legislation passed by the House would effectively make the government the sole lender for students looking to finance their higher education.

H.R. 3221, the Student Aid and Fiscal Responsibility Act, would eliminate the Federal Family Education Loan program, which provides almost 75 percent of all student loans. This program has operated for more than 40 years as a source of private capital backed by government guarantees.

In 1993, the Clinton administration created the government-owned and run Direct Loan program to provide student loans. The idea behind the program was to create a nonprofit "competitor" in the student loan market. If that idea sounds familiar, it's the same rhetoric many are using to make the case for a government-run, public health insurance plan.

The Direct Loan program is only about 20 percent of the market right now. Since the bill would eliminate FFEL loans on July 1, 2010, the federal government would have to quintuple the amount of loans processed by the Direct Loan program in less than a year. In all likelihood, such a significant change could mean chaos for schools and students.

read more at- http://www.dailylocal.com/articles/2009/09/21/opinion/srv0000006427244.txt

[wakeupamerica]

here is one answer i found on michelle malkin website to the education takeover-http://www.campusreform.org/