Whereas, Congress proposes to eliminate all private student loans and allow the Federal Direct Loan program and the Federal Direct Perkins Loan program to be the sole provider of higher education loans in the United States;

Whereas, if the government is given control of these loans, they and they alone will control the rates given to students. History shows us that time and time again, the government is less efficient than the private sector.

Whereas, this expansion of the federal government removes competition from the student loan industry and give Congress the power to determine who qualifies for student loans and who does not;

Whereas, the government takeover of the student loan industry follows a growing pattern of Congress and the current administration taking over private business and industry;

Whereas, government programs have a long history of costing more than initial projections due to administrative waste and inefficiency;
Whereas, this government takeover destroys the free market within the student loan industry and eliminates competition;

Therefore, I urge the federal government to stop the takeover of student loans and continue to give students choices in how they pay for their college education.

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