ERIC Number: EJ940789
Record Type: Journal
Publication Date: 2011-Jul-25
Reference Count: N/A
Time to Turn Attention to a Different Debt Limit: Downsize Federal Student Loan Programs
Parker, Thomas D.
New England Journal of Higher Education, Jul 2011
The author has spent much of his working life studying and promoting student loans. As a good liberal Democrat, he spent years arguing for the expansion of the old Federal Family Education Loan Program (FFELP) which had its roots in Lyndon Johnson's War on Poverty. His professional life included stints working for one of the nonprofit FFELP agencies and being a co-founder of an entirely private nonprofit, non-federal student loan guarantor. In this article, the author argues that it is time to start downsizing the federal student loan programs. His reason for this is primarily to protect students from untenable debt burden. He also thinks a reduction in federal student loans would help to address the issue of out-of-control college costs and the growing national debt. Finally, the author thinks one can not ignore the cost to the government of this explosive growth in the amount of federal student loans on the federal balance sheet.
Descriptors: Paying for College, Student Loan Programs, Federal Programs, Educational Finance, Attitude Change, Debt (Financial), Poverty, Economic Impact
New England Board of Higher Education. 45 Temple Place, Boston, MA 02111. Tel: 617-357-9620; Fax: 617-338-1577; e-mail: email@example.com; Web site: http://www.nebhe.org
Publication Type: Journal Articles; Opinion Papers
Education Level: Higher Education
Authoring Institution: N/A
Identifiers - Laws, Policies, & Programs: Family Education Loan Program