
Aspire Resources, Inc./Iowa Student Loans scandal 2009 article: www.newamerica.net Obama gives "crony capitalism" a new meaning. First the auto industry, then "Green energy," and the newest payoff is in the student loan industry with Obama buddy Aspire Resources, Inc. Obama made a big stink in 2009 about how evil the banks were, not caring about the students who were borrowing money from them, and, with an unconstitutional power grab, took their business away. On May 21, 2012 I received an email from Direct Loan (the fed's entity for administering loans), informing me that the federal government would no longer be handling student loans, turning it over to Aspire Resources, Inc. With a reading of an interview with Steve McCullough, Aspire Resources president, conducted on May 2, 2012, it looks like what Aspire Resources boils down to is a debt collection agency for college graduate deadbeats. They are paid "on a sliding scale," depending on how well they "handle" getting the government's money back. Kind of sounds like what a loan shark does. In an odd twist, I remembered the hidden program Obama had buried in the 2011 deficit reduction plan, whereby he gave debt collectors access to student loan cell phone numbers. Coincidence? There are no coincidences in the Obama Administration. With a little digging I found Iowa Student Loans (ISL), the non-profit arm of Aspire Resources, also headed by Steve McCullough at the time, was mired in scandal in 2008. From a 2009 article <b>...</b>
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