View Full Version : My Bank Elected to Sell My Student Loans to the Department of Education

10-22-2009, 03:13 AM
Is this Constitutional??

On May 7, 2008, the President signed the Ensuring Continued Access to Student Loan Act of 2008 (Pub. Law 110-227) into law. This legislation authorizes the U.S. Department of Education to purchase federal student loans from lenders to ensure on-going liquidity and availability of funds for student loans.

10-22-2009, 04:35 AM
Nothing this government does is constitutional. It has gotten to a point where I'm almost starting to question whether the Supreme Court, presidency, or Congress is constitutional considering they still use those. :p

OH! And that sucks. Sorta. At least the loan is 100% insured. Good time to point out how the govt. is trying to make everyone dependent upon them.

10-25-2009, 01:31 PM

Matt Collins
10-25-2009, 07:35 PM
They probably didn't have a "choice" in the matter. I am sure they were strong armed into it.

10-25-2009, 10:22 PM
Is this Constitutional??

Don't worry, danno-they'll make it too big to fail. ;):(