rwp@hogpc.UUCP (R.PAUL) (04/10/84)
[] ccieng2!bwm (Brad Miller): > The criteria for getting the [student] loan should be total > availability to ANYONE attending college full time at an > accredited university. There is no sense in giving bennies on > the basis of income or need, etc. This is inherently socialistic. True, it is socialistic, but it is the only way of trying to enforce the concept that all [people] are created equal [with respect to ability to obtain an education]. I would guess that giving a blanket loan to anyone who wanted to attend college could tie up an awful lot of money, so I think it is fair to make the loans first available to those who really need them; then if there is more leftover to loan to people who just want to get stereos or cars in addition to an education, I guess I don't have an argument. However, if this were the case, why couldn't we just use this "leftover money" toward paying off government debts. > Then, to cure the default problem, let the IRS collect defaulted > loans. If you accept the loan with the guv's guarentee, you give > up this much privacy. You needed your SS number to get the loan, > so the IRS knows damn well where you are, and can attach your > salary if need be to collect. Treat the defaulted loan just like > taxes owed the guv, and keep charging interest at the current rate. > The subsidy of the taxpayers into the program would be quite low > (admin costs, and collection costs, but we are paying that anyway), > and we are still providing credit towards an education to those > without a good enuff credit rating to gain a personal loan on their > own. I really like this idea, but I feel that, as with taxes, there should be a limit to what could be taken out of the salary at any one time. That limit should be based on a percentage (perhaps graded as with taxes) of the total income such that the person who gets a really lousy job moneywise can still eat and pay the rent while paying off his/her loan. The loan would still be collected, but over a longer period (thus with more interest collected). Again, this should be allowed only as a replacement for default, not as ordinary payback procedures. Rick Paul AT&T Information Systems Laboratories Lincroft, New Jersey ihnp4!hogpc!rwp