Technically, the nation's financial health is getting better. But statistics are cold comfort for Americans who are still struggling to make ends meet.

The only reason these schools can stay in business is because the government allows federal financial aid to be used for them. If a student (such as the ones described) did not have a <a href="http://www.collegeloanconsultant.com/pell-grant.html">Pell grant</a> or a federal student loan, they would never be offered a "gap" loan.

the sham schools should be shut down -- but students going to the real schools should have access to student loans at reasonable rates -- where is the federal government on this issue -- we are going to lose an entire generation of high school students because classes are overcrowded and school records are being ruined as clerical staffs are fired, and we are losing a generation of college students who can't afford college, and we are losing a generation of new college graduates who cannot get jobs

but as long as the Wall Street frauds are getting seven figure bonuses I guess I shouldn't be complaining

Mr. President, you are taking your eye off of the ball

Students! Schools! This is not the time to borrow money or to lend money. We are at the early stages of a deflatonary crash. This is Great Depression. Bigger than 1930s. Money supply is going to deflate. When there is half the amount of money in existence, it will be very hard to pay back debt. Most of our money supply is bank credit. It is borrowed money. When we borrowed, we created the money, and we promised to pay back principal + interest. When an entire population does this for decades, it becomes unsustainable. Debt must increase exponentially so that interest portion is created so that we can earn and pay back. When borrowing and lending stops, it becomes very hard to pay back what we owe because we cannot earn money that does not exist. Debt is the cause of the crash. Boom and bust is built into the monetrary system. Here is the debt problem:

http://www.tradingstocks.net/html/inflation_deflation_credit_bub.html

I have a young friend who graduated from Everest Institute in January 2008 and was hit with an 18 % interest rate on the part of his students loans not covered by the any government program (approximately $6000.) This high rate of interest has made it extremely hard for the student to pay off this student loan and has left him without any recourse but to continue to live at home while working because of the costs of the laon. I do feel that 18% interest rate for a student loan is Usury and that this process needs to be dealt with by the federal government as part of the finanical overall and regulation.

After Bush entered office and increased the student federal loan rate, it's our own government that is ripping us off. While giving nearly 0% interest to bail out wallstreet, and while our mortgage rates plummeted, the feds have insisted on keeping student loans at over 7%. Lets make a profit off of those that are least to be able to pay, our young. Wake up Obama, give us a break too. And of course, when you've gone broke because of our economic downturn, the loans must be paid without any other recourse. It's sure a nice way to treat our young trying to prosper,

All government loan programs should stop. Schools just jack up tuition rates anticipating that the students will be able to pay the tuition through loans.

Kids coming out of school want to get off of paying back their loans. They'll make fine deadbeats as adults.

18 % interest rate is too high to aford ,when the student left college he has nothing to pay it.

If you are a young person and come from a family that cannot afford to send you to college, do not go. Never take out a student loan to pay for college. If that leaves us with just the wealthy attending college full time or working people attending part time and paying with their wages, so be it. We would be left with a great deal of young who would have no student loan debt. Screw the government and the student loan program and the banks and our colleges. None of the knowledge these colleges offer is hidden. Find it on your own and study it.

Westwood College???s tuition is so high that it exhausts student???s federal subsidized and unsubsidized loans leaving students with an unmet balance (gap). This is when Westwood promises students Pell and Cal Grants that should cover the gap. However, what they fail to tell student is what it takes to qualify for a Pell and Cal Grant. Westwood uses trickery to trap student (Bait and Switch) and they are very good and it. They wait a term or two (10 month= 1 term) before they inform students that they do not qualify for a Pell or Cal Grant and offer them an ???in house loan??? (Apex Loan). At this point or stage in students program they have incurred approximately $5,000-$10,000 of student debt. Westwood College???s Admission Representatives (Sales Associates) pressure student to fill their gaps with their Apex Loan without disclosing the interest rates to the students. They overwhelm students with paperwork in efforts to hide the interest rate that is hidden in fine print. Westwood College is a crook, a for profit institution.

Westwood College???s tuition is so high that it exhausts student???s federal subsidized and unsubsidized loans leaving students with an unmet balance (gap). This is when Westwood promises students Pell and Cal Grants that should cover the gap. However, what they fail to tell student is what it takes to qualify for a Pell and Cal Grant. Westwood uses trickery to trap student (Bait and Switch) and they are very good and it. They wait a term or two (10 weeks = 1 term) before they inform students that they do not qualify for a Pell or Cal Grant and offer them an ???in house loan??? (Apex Loan). At this point or stage in students program they have incurred approximately $5,000-$10,000 of student debt. Westwood College???s Admission Representatives (Sales Associates) pressure student to fill their gaps with their Apex Loan without disclosing the interest rates to the students. They overwhelm students with paperwork in efforts to hide the interest rate that is already hidden in fine print. Westwood College is a crook, a for profit institution.

Let them go out and hustle. Get a job. Work. And pay it back. Like the rest ofus.

That is just the begun of this insane reform, do you really think or believe everything will be that easy as Mr:Obama tell you, what is coming next, you had no idea, this game are from both party's not only by the Democrat's, but , Republicans and we only let pass by on your eyes, at near future after Congress pass the Health Care Reform, we not longer will be use the last name, we going to be forced to use your last four digits of your Social, and the new National Card, after that will be much worse, good luck people, I'm not going to be here for that, thak's for your Health Care ?, It not even pass how I know this will be pass ?,. Do you as your self the same question !,...