[miragesmack]

Does this really help the student? I think the loans are at the same rates, it's just a different lending source. They just are taking the profit that the bank was making, and using it to fund the health care bill. I do wonder what happens if you default though. The IRS will confiscate your money, via a fine, from your tax returns if you are not complying with the new health care rules. Will they do the same if you default here? Plus, can you file bankruptcy on these loans should you need too, or will they just take them from your tax returns? I don't know the answers, but sounds like these are not positive possibilities to the borrower. I never had any issues with my loans, which I think were at 5.5% or so.