Who Do I Thank for the Bond Proposal?

This week in Texas politics the news about student loans on the ballot caught my attention. A $500 Million bond proposal for a college lending program is on the ballot for Texas voters. Of the two proposed constitutional amendments concerning higher education, Proposition 2 would authorize the Texas Higher Education board to Borrow $500 million for low interest loans to college students. I know my voting habits and I tent to say yes to stuff like this. Money for a library sure, cash for teachers why not? I have a soft spot when it comes to money for education.

However the question I bade to ask is what party is responsible for this proposal? To my surprise it looks like the proposal is nonpartisan. These loans for college are to be given out by private lenders. But I seem to remember something that happened earlier this year concerning student loan fraud and colleges and maybe there is just a little too much money floating around these days. If there is such a thing as to much money, someone show me. I seem to remember my mother telling me you could never be too rich, too young, or too thin; I don’t have any of those problems. But I do have a student loan and I am pretty sure I will be acquiring more. So this is one constitutional amendment I may actually pay attention to.

The Higher Education Commission is a nonprofit state agency. Commissioner Raymond Paredes said in an interview with Ralph Haurwitz of the Austin American Statesmen, “there is no cost to taxpayers, as a nonprofit state agency we make student loans at rates significantly lower than what student can typically get in the commercial market.” This all sounds really good and I hope this sort of good will for students lasts. I also hope that Texas Colleges and students can keep their nose clean so these sorts of loans can continue for generations to come.

I have yet to begin paying off any of my loans but the future feels a little better knowing I will only have to pay it back with small interests. It is also interesting to read that some of the proposed amendments that come to the Texas senate are actually nonpartisan. Who do you vote for to make sure stuff like this type of bond proposals come to the ballot box? Maybe this is one issue that all political parties agree with. Money for college is good.