Public Hearing on Reauthorization - March 7, 2003
- Public Hearing Home
- Access & Retention, Panel of Experts
- Quality & Accountability, Panel of Experts
- Public Testimony, Panels 1 - 3
- Public Testimony, Panels 4 - 6
- Public Testimony, Panels 7 - 8
Question and Answer Session
MR. ANDRADE: Mike, I have one question for you. There are some who would argue for the establishment of an advisory committee for standards. Since the Department already has 21 or 22 advisory committees, is there anything that you can think of, in terms of the needs that have been identified by those who put this proposal out there, that PESC is not currently doing or could not do?
MR. SESSA: I believe the intent of that commission proposal was to establish accountability. While it is a potential solution to that issue, I do not believe it necessarily meets the need at hand and is not the best way to solve that problem. That commission came from FFEL Financial Partners and introduces a complex layer, again, that doesn't necessarily meet the need of accountability.
I guess my point here is we have a variety of things in place. Let's keep this simple without adding extra layers.
What we have is working and I would recommend that we ride that momentum.
MR. ANDRADE: Okay. Thank you very much.