Propostion 2 an Economical Idea

Proposition 2

There are many propositions that are being voted on at this time, but one of the most important ones is proposition 2. There is an article in the Austin American Statesman written by Ralph Haurwitz on October 21, 2007 called Election: Constitutional amendments Student loans depend on voters that explains Proposition 2 will authorize “the Texas Higher Education Coordinating Board to issue $500 million in bonds to finance low-interest loans to college students.” This is a smart and economical proposition because it will not affect the taxpayers money, in other words the funds for these lower interest rates will not come from our taxes. The bonds will be paid back by the students’ loan money; therefore it will not even affect the states deficit. The money will be taken out in bonds and allow a lot of students to reach their dream of succeeding in graduating college. Education has always been stressed as important and as a fellow college student it is more important than ever right now to be able to pay these loans back at the lowest rate possible. We are currently using a bond at this time and the only reason we must re-instate the bond is because the old one is running out. According to an analysis by the House Research Organization, a nonpartisan unit of the Texas House, The current coordinating board's bonding authority will run out in 2009 if Proposition 2 is not approved. If this bill is not approved it may mean less education for many students who will not be able to afford to re-pay the high interest loans, which would damper our community and our economy. It just does not make sense to not approve this bill, unless you are a commercial bank owner who wants to rather receive profit, than to further the better education of our children. In conclusion it is plain and simple to see that our students need this proposition to pass to better our economy and our future.