Nothing but SAFRA

Students Over Banks has a nice collection of recent editorials, blog posts, letters to the editor, and articles on SAFRA. Here.

I particularly enjoyed this paragraph from a column in Eastern Michigan University’s The Eastern Echo:

But why does the U.S. government give billions to private lenders every year just so these lenders can loan our own money back to us? And why is Uncle Sam required by law to cover 97 percent of the debt if student borrowers default on their loans? The answer is both sad and funny. The FFEL program, it turns out, was devised by government bureaucrats trying to solve a problem created by government accountants.

Jesse Singal

Jesse Singal is a former opinion writer for The Boston Globe and former web editor of the Washington Monthly. He is currently a master's student at Princeton's Woodrow Wilson School of Public and International Policy. Follow him on Twitter at @jessesingal.