Sallie Mae

Lou Barletta and Paul Kanjorski yesterday sent out press releases about the loss of 100 jobs at the Sallie Mae student loan processing center in Hanover Twp.

Barletta

100 Sallie Mae jobs lost because Kanjorski chose Pelosi politics over employees

Kanjo

Kanjorski Statement on Sallie Mae Jobs

This is an easy shot by Barletta because he has never been put in the position of weighing a
parochial interest against the greater good of the country. Yes, Kanjorski voted for Health Care Reform that also changed the way the student loan program is administered. On a stand alone vote Kanjorski was one of the few Democrats that voted against it. But governing is about choices and compromise then voting for the greater good.

I have to say that they are both wrong on this issue. The US Government supplies the money and guarantees the loans so the lenders don't have any risk and are just middlemen. It's just more Corporate Welfare. Cutting out companies like Sallie Mae means more money can actually go to students to pay tuition instead of interest.

Saddling our college grads with a mountain of debt has to be one of the most self defeating things we do as a nation. As one of my political hero's, George McGovern, once told me about the post WWII GI Bill it paid for itself 10 times over because the taxes collected from the higher salaries of a college educated workforce far exceeded the cost of the program.