97 3.8 Ignition Question

I've never been inside the steering column aside from replacing my steering wheel. If I had to guess though, I'd say that you will probably need some parts that you'll have to source from a junkyard, since they will be too unusual for Ford to still carry. It might actually be easier to replace the whole steering column with one from the junkyard. Don't be intimidated- it's actually not as bad as it sounds based on reading the procedure in the manual. Just be careful around the airbag and carefully follow the procedure for disarming it!

Replacing the steering column would probably be easier and it is fairly easy to get out. I removed the entire dash assembly from my 96 to change the heater core, and it was a piece of cake (relative cake that is). Believe it or not, the Ford dealerships do still carry parts for nick knacks like the arm that no other parts store may carry. I would take the column cover off and just see if the rod has just come loose or maybe its just a broken clip or something like that.