As Chair of the EdFund Board of Directors, a two-term commissioner of the California Student Aid Commission, as well as an academic vice president and provost of the University of San Diego for 24 years, I have seen firsthand the benefits students, families and colleges receive from the support and services provided by EdFund.
These important services, including college access initiatives, financial literacy outreach, student retention, delinquency aversion and default prevention, must be included in any re-structuring of the federal student loan program. This is why I am pleased to see the emergence of a thoughtful and deliberate discussion around the education proposals contained in President Obama's Fiscal Year 2010 budget proposal.
Previous dialogue has too often centered on a nonproductive debate about the merits of the Federal Family Education Loan (FFEL) Program versus the Direct Loan (DL) Program. What has been lost in this dialogue is recognition of the critical support services students deserve in order to realize their potential and aspirations.
Congress must find a way to incorporate a focus on student support in any new or revised program. These support services need to come from independent agencies that have a student-focused mission, a proven track record of success and the ability to interact directly with students and colleges, such as guaranty agencies.
As a company dedicated to student success, EdFund must ensure that students and families continue to receive the personal support and services they need to pursue their educational, career and financial goals and achieve their dream of a higher education. Services which guarantors now provide, and which should continue to be provided, include:
- college access initiatives,
- training and assistance to schools and financial aid officers,
- financial aid awareness,
- financial literacy education,
- loan counseling,
- student retention and early withdrawal counseling,
- loan delinquency and default prevention, and
- personal debt management counseling and loan rehabilitation.
The EdFund Board is grateful for the work of the financial aid community each and every day, and we are proud to partner with you to guarantee the dreams of students all across the country.
Sincerely,
Sister Sally Furay
EdFund Board Chair
Posted 04/09/09 to www.NASFAA.org. Posting of press releases is done as a service to Members and does not imply endorsement or support by NASFAA. NASFAA does not review this information for content or accuracy.
