Quoted In: Surviving the Game of Chicken (Inside Higher Ed)

by Justin on November 23, 2009

"Financial aid officers and their bosses, college presidents, can be forgiven if they feel a little bit like the rope in a game of political tug of war over federal student loans," Inside Higher Ed reports. "On the one hand, they’re hearing regularly from the Obama administration and its allies in Congress that they’re putting their students’ academic futures at risk if they don’t prepare to switch to the federal Direct Loan Program now, because pending legislation known as the Student Aid and Fiscal Responsibility Act will require them to do so by next July. On the other, lenders are whispering in their ears that the legislation’s fate is uncertain and that if they prefer the bank-based Federal Family Education Loan Program, in which a majority of colleges still participate, they should stick to their guns. And Republican supporters of the FFEL program introduced legislation last week that would extend the 2008 law, known as the Ensuring Continued Access to Student Loans Act (ECASLA), that provided federal money to buttress the lender-based program as the financial markets collapsed around it."

You can read the complete Nov. 23, 2009 Inside Higher Ed article on-line.

From → Public Policy, Quoted In, Student Loan Crunch, Student Loans