"[S]tudents should rest assured that federal student loans, such as Stafford Loans, will continue to be universally available," writes Representative Thomas Petri (R-WI) in The Wall Street Journal. "By law, students get federal Stafford Loans without credit checks and at virtually zero risk to the lender because the government reimburses the lender for any loans that default. In fact, well over 1,000 banks continue to participate in the guaranteed loan program, with some banks such as J.P. Morgan Chase announcing a recent expansion of their student-loan program. Should serious disruptions develop in the guaranteed federal loan program, the Department of Education is required by law to take up the slack. The sky is not falling on student loans."