Criticism of conservatives and Republicans often seems partisan and shrill, but it is often simply a matter of right and wrong. While I have serious problems with the Democratic party as well, I believe that the Republicans are the worse of two evils. In this column, I once again bash Republicans with both fists.

The recent Republican assault against the direct student lending program makes me sick, and it should also disturb every student who has to borrow money to attend college. In fact, every taxpayer should be offended by the Republicans' latest mischief--it will waste billions of dollars. This wasted money will end up in the pockets of banks, guarantee agencies and other lending institutions that profit from federal government subsidies of student loans.

Basically, the student loan program used to be rather inefficient. The federal government would guarantee student loans made by banks, who enjoyed a generous subsidy and often ignored defaults because they were insured by Uncle Sam. Also, this system generated a great amount of paperwork for colleges and students.

One of President Clinton's few good ideas was to reform this wasteful system. His direct student lending program eliminated many of the problematic aspects of student loans. Instead of going through banks, the federal government would loan money directly to students. The government's repayment schedules were far more flexible, and colleges and students bypassed the administrative headaches of dealing with banks. Also, budget estimates projected that the government would save billions by switching to direct student lending.

Of course, the lending institutions that had previously reaped tremendous profits under the old system were outraged. They were about to lose truck-loads of easy money. At first, Clinton and other Democrats engineered a compromise. Direct student lending would be gradually phased in, and banks would be allowed to compete with the government for students' business.

But competition was not what these bankers wanted--competition would destroy their monopoly on the lucrative student loan market. They quickly began to mount a campaign against direct student lending. One of their attempts to defeat the new system was to turn public opinion against it. This was done by sponsoring intentionally biased polls and placing dishonest editorials in newspapers such as The Washington Times. One of the most distorted polls was conducted by Frank Luntz, a conservative pollster with a history of ethical bankruptcy.

Yet, the lending industry could not succeed in maintaining its chokehold on taxpayer-financed profits without well-placed friends in Congress and the Seante. Of course, they found willing accomplices in the Republican party. Representative Bill Goodling (R-Penn.) and Senator Nancy Landon Kassebaum (R-Kansas) were more than willing to trumpet the innuendos against direct student lending.

Republican legislators did not voice the legitimate criticisms of direct student lending. Instead, they served as the surrogates of lenders who could hire writers and pollsters and even intimidate college administrators in their desperate attempt to maintain a wasteful system. Yes, even the votes of Republican legislators were for sale--many received generous campaign contributions from the industry that wanted to maintain its obscene profits from government subsidies. Of course, these charges are simplified, but they are backed up by a mountain of evidence. An article in the November 30 issue of Rolling Stone magazine details this legal but sickening corruption that sucks our tax dollars into corporate coffers.

Two weeks ago, the Republicans achieved their goal. Direct student lending has been capped at only 10 percent of total loan volume. If there was any justice in this country, Goodling, Kassebaum and their ilk would be publicly whipped on the Capitol steps. But that won't happen. We will just pay higher loan fees and watch bankers laugh as they rob us.

David W. Brown's column appears on alternate Wednesdays.