Issues
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Higher Education The Student Aid and Financial Responsibility Act (H.R. 3221) would reform federal student financial aid programs. Specifically, the measure would abolish the Federal Family Education Loan (FFEL) program. In lieu of the FFEL program, H.R. 3221 would expand several other higher education financial programs, including the Federal Pell Grant program and the William Ford Federal Direct Loan Program. While I acknowledge that more must be done to help students seeking assistance to attend college, I do not believe that a federal takeover of the student loan industry is a panacea. Instead of implementing reforms aimed at protecting students and encouraging lending in the federal and private markets, the House voted to expand the scope of the federal government by taking over student aid programs. I believe this is the wrong approach as it compromises the private market and competition. |