While the [student loan] system has been lucrative for Sallie Mae, it has been downright harmful to the students and taxpayers whose interests federally guaranteed student loans were supposed to serve. Students assume the debt; taxpayers bear the risks, and Sallie Mae reaps the rewards.
She is dead on in her criticism of Sallie Mae causing me once again to wonder why there aren't more of a fiscally conservative/libertarian arguments about the waste in the student loan programs. There is broad political interest in more efficiently using federal resources. The question this column begs is what's her solution?