Should All Students Be Able to Borrow? Maybe Not, Says One Group

When the Bill & Melinda Gates Foundation asked 16 organizations to "reimagine" the financial-aid system, one grant recipient saw an opportunity. The National Association of Student Financial Aid Administrators wanted to be bold, to raise controversial questions. The association, known as Nasfaa, released a white paper on Wednesday, exploring, among other things, whether all students should have access to education loans.

The Gates Foundation's project, Reimagining Aid Design and