Five years ago, 6.8 percent sounded pretty good. The problem is it represents a significant rate hike today.

This is an all-around good thing. I suspect that Michigan, with the two largest universities signing on, will move in the direction perhaps more quickly than other states.

Frankly, probably all of them, if you were to admit them, would do well. But it's a matter of making a distinction between highly qualified candidates. GPA isn't going to help you.

In American history, this is the most outrageous giveaway ever extended by the federal government to private lenders.

It serves as a rude awakening when they show up and they realize 'Boy, it never occurred to me this might not be the right place.' ... In my mind, that is the function of really bad counseling.

This will be like trying to land a 747 on an airstrip built for a single-engine plane. And we're all going to have to fly in by the seat of our pants.