I have just retired after almost 35 years as Duke University's director of financial aid. I remain keenly interested in the landmark debate over college loans now making its way through Congress. The result of this debate could radically change the way students obtain loans for college.
The Obama administration has proposed to eliminate all private student lenders and make the federal government solely responsible for the management, processing and timely delivery of all student loans via the Federal Direct Loan Program. This would be a very serious mistake.
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