Submitted by Jim (not verified) on December 4, 2008 - 7:32pm.
Instead of converting the FFELP into state-wide monopolies as the auction price system would do (see PLUS auction plans), this program should end.
Violating this attempted private-public partnership, Congress has demonstrated bad faith through its repeated efforts to plunder the system to fund other programs, and arbitrarily revising price controls downward in order to score political points.
Lenders should stop squandering shareholder value in a vain attempt to resurrect this corpse. Let the Congress enlarge the DLP as a welfare program, building a wasteful portfolio of ICR loans that will result in subsequent large writeoffs.
Lenders should focus on building reliable private education finance products.
End FFELP
Instead of converting the FFELP into state-wide monopolies as the auction price system would do (see PLUS auction plans), this program should end.
Violating this attempted private-public partnership, Congress has demonstrated bad faith through its repeated efforts to plunder the system to fund other programs, and arbitrarily revising price controls downward in order to score political points.
Lenders should stop squandering shareholder value in a vain attempt to resurrect this corpse. Let the Congress enlarge the DLP as a welfare program, building a wasteful portfolio of ICR loans that will result in subsequent large writeoffs.
Lenders should focus on building reliable private education finance products.