Neb. Senator Takes Issue With Student Loan Stance
The Center for Responsive Politics said Nelnet contributed $24,200 to Johanns in the 2008 election cycle.
That put the Lincoln, Neb.-based student loan company as Johanns' third largest contributor ¿ behind Altell Corp. and ConAgra Foods ¿ in his race for the Senate.
But Johanns said he is opposed to direct government lending of student loans because of the impact it would have on "about 1,000 families in Lincoln," with members who work for Nelnet.
"What affects me most are the people who are there who have mortgages to pay and bills to pay, and all of those things, and I just don't think you should make this decision lightly," Johanns said. "It's not just our state; this industry has a presence in many states across the country."The House bill would end government subsidies for private lenders, boost Pell Grants for needy students and create grant programs to improve community colleges and college graduation rates, among other things. Ending private loan subsidies and having the government issue loans directly to students would save taxpayers an estimated $47 billion over 10 years when administrative costs and market conditions are considered, the Congressional Budget Office has said.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV