Short answer is no. Let’s analyze why.
The argument for the bill seems simple enough, right?
The Administration essentially wants to cut companies out of the game and run the system itself. Democrats claim the move will save $87 billion over 10 years, which can be used for a laundry list of education priorities, including increasing the maximum amount of Pell Grants, expanding Perkins Loans and investing in community colleges and other programs
Loaning directly to students while reducing the amount a student is required to repay will actually encourage colleges and universities to increase tuitions even faster, as students will be more willing to assume larger debts which they are not legally required to repay.
Not only will this bill cause tuitions to rise faster, but contrary to Obama’s claim, it will substantially increase the cost to taxpayers who will be forced to pick up a much larger share of inflated tuitions and absorb bigger losses on defaulted loans.’
Ahh…this is like a breath of fresh air while Obama’s rhetoric is the same political smog we’ve had for years.