Submitted by Financial Aid Administrator (not verified) on June 26, 2009 - 4:12pm.
Jason Delisle and Higher Ed Watch deserve great thanks for bringing to light the EFC "plot" to ensure that their statutory profits continue. Congress should not fall for this blatant attempt to circumvent the intent of student loan reform that seeks to have all work performed be paid for through a competitively-let bidding process. No one should let the words "non-profit" bring a sense of security to any plan. The news has been full of scandals for years involving many non-profits as well as for-profits within the FFELP industry. Such guarantees sought by EFC are inappropriate and unnecessary to a well-run federal student loan program. Jason Delisle's commentary should be required reading for every member of Congress and his/her staff!
Close the back door
Jason Delisle and Higher Ed Watch deserve great thanks for bringing to light the EFC "plot" to ensure that their statutory profits continue. Congress should not fall for this blatant attempt to circumvent the intent of student loan reform that seeks to have all work performed be paid for through a competitively-let bidding process. No one should let the words "non-profit" bring a sense of security to any plan. The news has been full of scandals for years involving many non-profits as well as for-profits within the FFELP industry. Such guarantees sought by EFC are inappropriate and unnecessary to a well-run federal student loan program. Jason Delisle's commentary should be required reading for every member of Congress and his/her staff!