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Abstract

Widespread concern and complaints have mounted about the cost to the federal government of the Stafford Loan program, and specifically on increasing costs of defaults and reports of fraud and abuse in the system. Policymakers are scurrying to enact change during this Reauthorization of the Higher Education Act. Indeed, change in the Higher Education Act is a long time coming. This article will explicate the nature of our discontent with the current state of affairs, offer institutional perspectives, raise questions and key principles in the hope that amidst a highly-charged political debate, reason and common sense can find a place.

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