student Loan crisis Brewing In The United States

Bank Of America Student Loans - student Loan crisis Brewing In The United States

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This mandated reduction in the interest rate charged by lenders, in theory, was to help American College Students to afford their education. The reverse succeed has happened, as by reducing the interest rate on trainee loans, the government has mandated a reduction in the profitability on those loans, production them less desirable as an venture to the investors who purchase these loans from banks.

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Bank Of America Student Loans

Investors in these loans contribute the liquidity to the banks to make future loans. Without this liquidity or capital, banks do not have the money to make new loans.

Recently nearly 70 trainee Loan Lenders have suspended their lending, as liquidity has dried up from investors and lenders do not have the capital to make new loans. This list includes the nations largest bank...Bank of America, who three weeks ago stop lending money for trainee loans.

Congress, the animal who created this problem last fall, by trying to mandate interest rates on trainee loans and who has no company setting prices in a Free store Economy, is currently attempting to fix the problem.

Three weeks ago the Us House of Representatives passed legislation to allow the branch of education to purchase loans from lenders on the secondary market, to contribute liquidity to trainee loan lenders, so they can make new loans. The program is called the "Lender of Last Resort Program".

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