THE STAR ACT
Congressman Petri (R-WI) has been saying it for years, yet many times it fell on deaf ears. The Star Act, which he helped author and has bipartisan support, basically would take federal subsidies to the banking industry and redirect those monies directly to student loans.
The Status Quo right now, is where the Government subsidizes the banking industry, which then directs that money in the form of loans to students. The Government, could save alot of money if it cut the subsidy and loaned that money directly to students. That's the key however: that the money remains in the form of a loan.
As a conservative Republican who has been on alot of governmental programs that benefit the poor ( such as medicaid) in the past I believe it is essential that the Government not give "Hand-outs" to college students who believe it's a right to go to college. This money, I feel, should not be given in the form of grant.
If however, this bill was presented in a way that would increase the amount of federal loans, to help cover the rising cost of education, and if it would increase the amount of people who would be able to qualify for federal direct loans, then i would be in favor of this bill. I've done some research on this in part by reading this article.
Loans, especially College Loans are the perfect "hand up." College Students who haven't had rich parents, like myself, and who aren't getting much of anything from their parents (beyond their love and support which i cherish as I love and respect them very much), can benefit greatly by college loans. College Loans help these students focus on their education, succeed, and then pay back their loans, ear greater personal responsibility and didn't just get a "free ride" on behalf of Uncle Sam and just about every tax payer out there.
President Bush has already, in his budget, requested large increases in the means of Pell grants and Direct Loans. This bill has the potential to eliminate waste, and help more students pay their way through college. This year could end up being the year college students benefit most from govenrment reform. With Social Security personalization looming, and students having the option (you don't have to take the option and can have the government hold your money in a "lock (a.k.a. 'loan-to-the-government') box" if you so desire) and be able to save more of their own money and build a future nest egg for themselves... Students have the opportunity to be VERY successful under Bush's watch.
The Star Act, has the potential to be a very very very awesome bill. However, it also has the potential to be something else: another government "hand out" that creates dependency and the notion that higher education is a "right." If however, it rests on principle, that the notion of higher education in college is not a "right" but is a "responsibility" to be taken seriously and directs the money to students in the form of loans, then i'm confident this will be one of the best Acts passed this legislative session.
The Status Quo right now, is where the Government subsidizes the banking industry, which then directs that money in the form of loans to students. The Government, could save alot of money if it cut the subsidy and loaned that money directly to students. That's the key however: that the money remains in the form of a loan.
As a conservative Republican who has been on alot of governmental programs that benefit the poor ( such as medicaid) in the past I believe it is essential that the Government not give "Hand-outs" to college students who believe it's a right to go to college. This money, I feel, should not be given in the form of grant.
If however, this bill was presented in a way that would increase the amount of federal loans, to help cover the rising cost of education, and if it would increase the amount of people who would be able to qualify for federal direct loans, then i would be in favor of this bill. I've done some research on this in part by reading this article.
Loans, especially College Loans are the perfect "hand up." College Students who haven't had rich parents, like myself, and who aren't getting much of anything from their parents (beyond their love and support which i cherish as I love and respect them very much), can benefit greatly by college loans. College Loans help these students focus on their education, succeed, and then pay back their loans, ear greater personal responsibility and didn't just get a "free ride" on behalf of Uncle Sam and just about every tax payer out there.
President Bush has already, in his budget, requested large increases in the means of Pell grants and Direct Loans. This bill has the potential to eliminate waste, and help more students pay their way through college. This year could end up being the year college students benefit most from govenrment reform. With Social Security personalization looming, and students having the option (you don't have to take the option and can have the government hold your money in a "lock (a.k.a. 'loan-to-the-government') box" if you so desire) and be able to save more of their own money and build a future nest egg for themselves... Students have the opportunity to be VERY successful under Bush's watch.
The Star Act, has the potential to be a very very very awesome bill. However, it also has the potential to be something else: another government "hand out" that creates dependency and the notion that higher education is a "right." If however, it rests on principle, that the notion of higher education in college is not a "right" but is a "responsibility" to be taken seriously and directs the money to students in the form of loans, then i'm confident this will be one of the best Acts passed this legislative session.
posted by Anonymous @ 1:52 AM
0 Comments:
Post a Comment
<< Home