I was unaware of this issue before running across this broadcast. The Federal Government is eliminating private banks in direct lending of Government Money to students. The money that they are saving by eliminating this outsourcing will be funneled back into the system in the form of pell grants to the neediest students. I'm not sure if this is a bad thing or a good thing. I know that banks have not been as responsive and obliging as one would think a private company should be to its customers, i.e. when you can't pay, they don't care. The government is notorious for red tape and bad customer service--but at the end of the day, they are accountable to the citizens of this country. The interest rates on these loans will be set by Congress, at a whopping 6%. However, it's even higher with private lenders--12%. I guess we will see how this plays out come the Fall. Maybe the Government will have a problem with the constantly increasing costs of education in this country. Let's hope this is a step in the right direction.