Thursday, April 9, 2015
The Secretary's General Authority and the Department of Education's Orientation
Here are a few quick points of the day:
The Secretary of the Department of Education has the general authority to make swift changes, but he won't. Why won't he make swift changes to help students and borrowers? It's about the Department of Education's overall orientation. They will do anything to protect lenders and schools. That is their clientele. The students are not their clientele. Period.
Perhaps if their orientation were to shift, we'd actually see some changes. Until that time, we're not going to see much in terms of positive outcome for students and current borrowers. (I am still amazed that Bob Shireman was able to implement IBR).