You should read Dan Lips’ argument against certain aspects of the Student Aid and Fiscal Responsibility Act of 2009, particularly the ending of the Federal Family Education Loan (FFEL) Program. I mostly disagree with the piece, and am particularly mystified by Lips’ contention that the profit motive leads to bureaucratic efficiency and low overhead costs (not to name names or anything, but aren’t there certain companies within a certain industry that happens to be in the news right now which prove this to be very false?), but it’s still a useful, non-hysterical conservative critique of SAFRA.
