Congressman John Carter

Well here comes the first round of BS from our Senate.  This comes from my Congressman John Carter. 

HOUSE PRIVATIZES STUDENT LOANS

On Friday, September 18, the Austin American Statesman reports on the Student Aid and Fiscal Responsibility Act of 2009. The House voted Thursday in favor of the biggest overhaul of college aid programs since their creation in the 1960s — a bill that would oust private lenders from the student loan business and put the government in charge.

The vote was 253-171 in favor of a bill that would fulfill nearly all of President Barack Obama's campaign promises for higher education: The measure ends subsidies for private lenders, boosts Pell Grants for needy students and creates grant programs to improve community colleges and college graduation rates, among other things.

Rep. John Carter, R- Round Rock, said the economic impact in Central Texas would be especially damaging. "In my district alone, this would directly eliminate over 1,000 jobs, not to mention all the bankers and spin-off businesses that would be negatively affected," he said.

In the Killeen Daily Herald, Carter said the legislation would have a negative economic impact in Central Texas . It would eliminate more than 1,000 jobs in his district, he said, which includes Bell , Coryell and Williamson counties.

"The public-private student loan program that has been in place since 1965 has provided funding for over 60 million Americans to attend college," Carter said. "To answer success like that by voting to destroy the system makes no sense for students in higher education."

Sallie Mae employs about 480 people in Killeen , and Texas Guaranteed Student Loan employs about 660 in Round Rock.

“After speaking personally with these folks, I know firsthand that many of these employees are the wives of soldiers at Ft. Hood, the last people we would want to hurt while so many of their spouses are deployed overseas protecting our country,” Carter said on KWTX.