Student Loan Transparency

No sooner had I put together my last post, when I saw a new group on facebook being pushed by my pal Matt Browner-Hamlin, who is currently working for Chris Dodd, that aims to improve the loans offered to college students. The group is called Student Loan Transparency Now! and it's set up to highlight a bill that Dodd recently introduced into the banking committee. From Dodd's campaign blog:

Recently Senator Dodd introduced the Private Student Loan Transparency and Accountability Act. The Dodd legislation extends new protections to all private student loans in order to improve transparency, prevent unfair and deceptive private lending practices and eliminate conflicts of interest. CNNMoney.com says "Student lenders would have to better disclose their rates and would be banned from discriminatory underwriting practices under legislation introduced Friday by U.S. Senate Banking Committee Chairman Chris Dodd, D-Conn" Accounting Web has more on what the bill does, as well as complimentary efforts being done by New York Attorney General Andrew Cuomo.

Check out Dodd's Senate sight for more info on the bill. This San Francisco Chronical article is a good place to start for background on this important issue.

Please help spread the word on the Private Student Loan Transparency and Accountability Act! It's not often that politicians in DC pay attention to the needs of young people, and we really need to try and reward politicians that do, with attention, volunteering, donations, etc. If more pols would push legislation like this I'm guessing it wouldn't be nearly as hard to attract young people to the polls on election day.

BTW, if you haven't read it already, please check out the Nation article about Matt's jump to the Dodd campaign. Matt's convinced me: at the moment, if Al Gore doesn't run, Chris Dodd has my vote. Only a few million more voters to go!