PLATFORM : Students Need Aid

Criticism of student-loan programs cites the cost of defaults and other abuses. These criticisms are based on fact. But these costs must be weighed against the educational opportunity provided to thousands of students who could not attend college without financial assistance. Studies of those defaulting on student loans demonstrate that those who drop out early in the educational process and never achieve their educational objective are most likely to default.

Legislation “cracking down” on fraud and abuse in the loan program is needed. But most of this legislation, implemented since 1988, cannot show an immediate impact on the default rate.

Loan programs must be monitored carefully and schools which seek to profit at the expense of their students should not be tolerated. But eliminating loan programs because of a few weaknesses is shortsighted.