Submitted by David Starr on March 14, 2008 - 8:17am.
You're wrong. The Direct Loan Program isn't "somehow inferior," it is inferior -- at least to the 5,000 schools that on their own volition chose to particIpate in FFELP rather than DL.
We live in a democracy the last time I looked and when 80 percent of the voters choose one option over another, the winner is for all practical purposes is superior. Idealogues may argue that point, but these particular idealogues don't trust schools or families (including young voters except when they vote Democratic) to make decisions thAt are in their own best interests. In their hearts they want Congress to tell every school and family "You have one lender to pick from and IT IS BETTER. Trust us."
That's an inferior idea. Gee, I wonder if NAF uses the USPS for overnight delivery v. Federal Express. I wonder if when they pick up an I-Pod, they think, God, these aren't worth $250 and young peole are wasting their money--the government should make these cheaper and better for the people. When they see subsidized housing, do they think, We don't need contractors with their icky profits, the US Army Corp of Engineers could build these--and not be inferior too.
Finally, NAF is getting a taste of their own medicine. They worked overtime the last year or two whipping up a media frenzy around the sins of a a small minority of finanacial aid offices and PRIVATE lenders and a much, much smaller percentage of FFELP lenders. Now the frenzy surrounds access to student loans. How does it taste, fellas?
HOW MANY FAMILIES REACTED TO THE HYSTERIA SPREAD BY NAF AND THE MEDIA BY CHOOSING NOT TO TRUST FINANCIAL AID OFFICES? HOW MANY WEREN'T GIVEN ADVICE TO FILE A FAFSA OR GET A STAFFORD LOAN FIRST? HOW MANY DECIDED NOT TO APPLY TO THE COLLEGE OF THEIR DREAMS?
Finally, finally, upfront benefits--the waiver of orgination fees by lenders--was real and their loss is real to borrowers. Of course, that's just money. That can't compete with ideology.
Dear Steve
You're wrong. The Direct Loan Program isn't "somehow inferior," it is inferior -- at least to the 5,000 schools that on their own volition chose to particIpate in FFELP rather than DL.
We live in a democracy the last time I looked and when 80 percent of the voters choose one option over another, the winner is for all practical purposes is superior. Idealogues may argue that point, but these particular idealogues don't trust schools or families (including young voters except when they vote Democratic) to make decisions thAt are in their own best interests. In their hearts they want Congress to tell every school and family "You have one lender to pick from and IT IS BETTER. Trust us."
That's an inferior idea. Gee, I wonder if NAF uses the USPS for overnight delivery v. Federal Express. I wonder if when they pick up an I-Pod, they think, God, these aren't worth $250 and young peole are wasting their money--the government should make these cheaper and better for the people. When they see subsidized housing, do they think, We don't need contractors with their icky profits, the US Army Corp of Engineers could build these--and not be inferior too.
Finally, NAF is getting a taste of their own medicine. They worked overtime the last year or two whipping up a media frenzy around the sins of a a small minority of finanacial aid offices and PRIVATE lenders and a much, much smaller percentage of FFELP lenders. Now the frenzy surrounds access to student loans. How does it taste, fellas?
HOW MANY FAMILIES REACTED TO THE HYSTERIA SPREAD BY NAF AND THE MEDIA BY CHOOSING NOT TO TRUST FINANCIAL AID OFFICES? HOW MANY WEREN'T GIVEN ADVICE TO FILE A FAFSA OR GET A STAFFORD LOAN FIRST? HOW MANY DECIDED NOT TO APPLY TO THE COLLEGE OF THEIR DREAMS?
Finally, finally, upfront benefits--the waiver of orgination fees by lenders--was real and their loss is real to borrowers. Of course, that's just money. That can't compete with ideology.