There was NEVER any reason for the FFEL program except to line the pockets of private lenders. It makes no sense and costs taxpayers money, both directly and indirectly when collusion by lenders and corrupt financial aid officers steers students to use more expensive sources than is in their best interest.

Senators and Congressmen are now discussing this important issue, and within a few years, I believe that we’ll see the abolition of FFEL. UP should make this a priority, in fact, because education is a core interest of the middle class.

As for your loans being forgiven… that would make no sense. You did borrow the money, and while I am vehemently opposed to FFEL, I would challenge the original article’s casting of the inability to find a job as being a lender’s fault.

In America, you have the right to decide whether you want to pursue a degree in Art History, Engineering, or nothing at all. You also have a right to choose your school. So if you spend $135,000 on music conservatory education and then discover that you only make $18,250 per year… too bad. Your choice, your life, and your debt.