On the recordJuly 23, 2007
Dear Senator, On behalf of students and institutions of higher education we urge you to oppose the Brown amendment to create a new supplemental loan program and eliminate all federal student loan limits. By eliminating all federal loan limits, the Brown amendment could have serious, negative unintended consequences on state investment in higher education. The Financial Services Roundtable would urge you to oppose the Brown Amendment, which would ultimately be detrimental to student borrowers. The Brown Amendment would create a new federal-run student loan program, in addition to current programs that would offer loans currently being made by private student lenders. This new government system with the ability to borrow money at government rates would essentially supplant lenders offering private student loans. The policy implications of such a program are broad and the unintended consequences are numerous.
Source
govinfo.gov
