I think that there would be a lot less people who were able to attend college. Most people who start college have very little credit history, so lenders would not be inclined to give them money for school. These students would have to either have a relative/friend cosign for them or work during school to be able to make monthly payments. I think enrollment would drop significantly because of these hardships. It would also be difficult for the schools themselves. The way the current system works, most students receive either loans or grants directly from the lender at the beginning of the semester to pay their tuition. The school gets this money paid out in full before the semester starts, which allows them to plan their budget a certain way. Without this system, most students would be on a monthly payment plan, which would effect college budgets and make it harder for them. There’s also the problem of interest rates. Right now, there are caps on the amount of interest that lenders can charge for the federally backed loans. If all loans were private, there would be no caps, leaving those who were able to get loans thousands more dollars in debt. Just my two cents! I’m sure there are many other things I haven’t thought of. Are you writing a paper?

Things like The Dream Act need to be looked at in a much broader light than only as a single issue. If you look at all the third world immigration in Europe as well as the US, there’s got to be a reason for it. It’s not simply coincidence that it’s happening there as well. Governments are supporting the destruction of western culture. What was the last thing our government did that made sense?The wars in the Middle East, massive financial irresponsibility, not stopping illegal immigration or any number of the unconstitutional laws and actions it has foisted upon us over the last 50 years? Come to your own conclusions as to why but, you can’t deny that western culture is being destroyed. There is a limit to how many immigrants any society can absorb without a major transformation. America and Europe are well past that. All these people want to come to our country because of what it was not because of what it will be. It won’t be too long and the US will look more like Mexico than the America of 1980. The Dream Act is just a small piece of that puzzle. The whole subject should be researched and those who have made it possible should be tried for high crimes and misdemeanors and then expeditiously hung.

I believe we would have an EVEN less educated population in the USA. Private lending institutions would do it for collateral and/or usury interest. It would NOT be good.