ABSTRACT
The more "liberal" federal terms—low interest and extended repayments—don't benefit anybody. They simply encourage delinquencies. No one knows for sure how many government loans are delinquent. By competing directly with government, that the independent sector could outperform the government sector. Responsible government officials have grown more and more anxious about the federal program. Public policy will be more sensible because the organization competes with government. This competition is good: the federal government is a tough competitor. Some combination of federal programs may displace the program. On the other hand, Congress may one day find commercial and independent agencies able to the whole job—and more. Government has money in abundance, but the independent sector has a much more important resource—oceans of talent—and the greater opportunity to trigger the commercial sector into action. In short, most people think reviving independent action sounds fine but won't work.
