Schoolyard Bullies; Obama Officials Try to Force out Private Lenders for Student Loans

The Washington Times (Washington, DC), November 30, 2009 | Go to article overview

Schoolyard Bullies; Obama Officials Try to Force out Private Lenders for Student Loans


Byline: THE WASHINGTON TIMES

Imagine what the outcry would be if the House of Representatives somehow passed a bill outlawing charter schools nationwide and, before the Senate had even considered the bill, officials throughout government began writing to school districts telling them to start planning to eliminate charters. The backlash would be enormous. How dare they pressure school districts to kill charter schools before the law actually has changed?

Yet that is exactly what Secretary of Education Arne Duncan, other department officials and several congressmen have been doing with regard to an attempted federal takeover of the entire student-loan industry. About 75 percent of colleges administer most of their student loans through private companies, backed by federal guarantees in the Federal Family Education Loan Program (FFEL). The other 25 percent of loans come through the Department of Education's own Direct Loan Program, which is the education version of health care's public option. Colleges and families apparently think the private program provides better services, which is why it still serves such an overwhelming majority of the market a full 16 years after the Direct Loan Program was created to compete with it.

For reasons both various and spurious, congressional liberals long have wanted to eliminate the private lenders. Finally, with huge Democratic majorities in both chambers of Congress, they saw their chance. The House already has passed a bill, misnamed the Student Aid and Fiscal Responsibility Act (SAFRA), that would run all government-assisted student loans through the Direct Loan Program, eliminating the private option.

But that's just the House. Chances for passage in the Senate look increasingly dicey. Senators are becoming sensitive to public anger about the federal government's takeover craze, which already has snared banks and car companies. People also recognize that private lenders employ about 35,000 workers, many of whom would lose their jobs if SAFRA passes. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Schoolyard Bullies; Obama Officials Try to Force out Private Lenders for Student Loans
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.