Submitted by Patrick Bott on July 24, 2008 - 7:43pm.
This is the pot calling the kettle black here NAF no? Define “bailout” for us NAF! Is that when a partisan Congress decides that it has made a terrible mistake in thinking it can completely socialize student lending in less than one year (legislation otherwise known as the CCRAA and subsequent partial reversal in Ensuring Continued Access to Student Loans Act)? It’s high time we acknowledge the truth…that what happened to the student loan community is not worthy of the verb “bailout”. I have a better action word, but it is not appropriate for the polite company here at the NAF blogs. Even in this time of extreme financial uncertainty, we’ve not seen the massive exodus to the Direct Loan program that many partisans were no doubt counting on. That’s an interesting fact isn’t it NAF? After losing market share for years after its introduction, after the greatest credit crunch since the Great Depression--no matter what, schools just don’t seem to want to massively abandon FFELP for the Direct Loan program! No, it seems that the only way all the schools are going to switch from FFELP to the Direct Loan program is if they are forced into making the switch. Freedom is a wonderful thing isn’t it NAF? It’s what makes this country so much better than anywhere else on the planet! Congress should do a better job of respecting the limitations of government--right NAF?
NAF's Clouded View
This is the pot calling the kettle black here NAF no? Define “bailout” for us NAF! Is that when a partisan Congress decides that it has made a terrible mistake in thinking it can completely socialize student lending in less than one year (legislation otherwise known as the CCRAA and subsequent partial reversal in Ensuring Continued Access to Student Loans Act)? It’s high time we acknowledge the truth…that what happened to the student loan community is not worthy of the verb “bailout”. I have a better action word, but it is not appropriate for the polite company here at the NAF blogs. Even in this time of extreme financial uncertainty, we’ve not seen the massive exodus to the Direct Loan program that many partisans were no doubt counting on. That’s an interesting fact isn’t it NAF? After losing market share for years after its introduction, after the greatest credit crunch since the Great Depression--no matter what, schools just don’t seem to want to massively abandon FFELP for the Direct Loan program! No, it seems that the only way all the schools are going to switch from FFELP to the Direct Loan program is if they are forced into making the switch. Freedom is a wonderful thing isn’t it NAF? It’s what makes this country so much better than anywhere else on the planet! Congress should do a better job of respecting the limitations of government--right NAF?