In a letter to Secretary of Education Margaret Spellings yesterday, NASFAA President and CEO Dr. Phil Day urged the Department to implement provisions in H.R. 5715 before Memorial Day to ensure that "its safety nets are operational as soon as possible." Day also asked Spellings to encourage the lending community to voluntarily provide student loan access to all eligible borrowers at any institution.

"Considering what happened in the sub-prime mortgage market, NASFAA is determined to ensure that a healthy and accessible loan program remains a top priority," Day wrote. "This is not about liquidity for lenders; it is about access, success, and choice for students!" The full letter is available online.

Posted 05/14/08 to www.NASFAA.org. Redistribution to non-NASFAA institutions is prohibited. Please submit Web Site questions or comments to Web@NASFAA.org.