NASFAA President and CEO Dr. Phil Day sent a letter to members last week assuring them of NASFAA's commitment to students during the current student loan credit crunch. Day reiterated NASFAA's positions and advocacy efforts to best deal with any possible loan shortages. But most importantly Day stressed that NASFAA’s efforts are to ensure federal student loan liquidity for students.

"Many students depend on a healthy FFEL program to access higher education," wrote Day. "Our commitment to students continues to be unwavering. Any disruptions in federal student loan availability this coming academic year will be unacceptable. NASFAA will continue to champion the needs of students on Capitol Hill and with the Department of Education to help ensure that students are not denied funds that have become a critical component of their financial aid package."

Day also called on lenders to fulfill their "moral responsibility" to offer federal student loans to all students enrolled in an eligible program, regardless of the student’s situation. "As we advocate for increased liquidity during this credit crunch, we also fully expect lenders not to deny students federal loans based on the school they attend or any other criteria," he wrote.

"We will urge the Secretary to exercise whatever regulatory intervention she deems necessary to insure that no eligible student at any institution is denied access to loans. This is not about liquidity, this is about access and success for students!"

Posted 05/12/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.