Articles Week 3

The article “Drilling Down on the Budget-Student Loans in the New York Times is written by Sam Dillon and is about President Obama’s budget proposal on education. The article talks about how Obama’s plan is designed to guarantee low-income college students a stable grant amount and would help eliminate $ 4 billion in annual subsidies to private banks who make student loans. The vice president of the American Council on Education says that this proposal by Obama is one of the biggest changes in the federal program of helping finance a college education since 1965. The article goes on to talk about the current system and how you qualify for a Pell Grant which helps low-income families. It also talks about how Congress votes on the program and how the new proposal wants to keep pace with the current inflation. The article also mentions what the current amount is and what it could possibly rise to under this new plan. Under this proposal there are many changes in the way the federal government provide student loans. The administration wants to eliminate the idea of the government paying a subsidy to banks and loan companies to make loans to students at a congressionally mandated interest rate. Instead the administration proposes the loans come from a direct lending program. Many of the private lenders are opposed to the changes because many of them receive subsidies under the current program.
I think that overall this is a very good article. Many students had trouble finding a way to pay for college before the economic crisis and now are having even harder of a time now. Many people feel like they cannot go to school because they cannot afford it and know that there is a possibility that they will be paying on their education many years after graduating. If this new proposal passes it will help many people. Even though the rise in the Pell Grant is small it will still make a difference too many. This program will also help students feel more secure because they know that they have support.
http://www.nytimes.com/2009/02/27/washington/27web-edu.html?_r=1&ref=politics

The article “Big U.S. Role in Lending to Students” by Jonathan D. Glater in the New York Times is about how with the government taking over the student loan market there may not be any room left for private lenders. The education department agreed to continue their commitment to buy student loans to keep the market working. Many people are worried about the current economic crisis including college students. The article states that a contract was signed by the Education Department where they agree to buy $60 billion dollars in loans which was more than previously stated and was almost enough to cover all the student loans made last year. The article states how while President Obama was on his campaign trail he strongly criticized the program and called it a “wasteful system.” The article then goes on to talk about the Clinton Era and different loan programs. The article also mentions banks and different types of loans that college students may take. It also mentions that this new program was considered to be a last-minute deal with the taxpayers’ dollars being a concern. With this being a concern the Obama administration are asking for additional analysis.
This article much like the first one is concerned with student loans. Education is something that is very important and something that I feel like does not get enough attention. This article goes in depth in talking about the different education programs all the way back to the Clinton era which I think is good because it shows how it has changed over the years. I also feel like the reason loans and other educational issues are getting so much attention is because of the current economic crisis. I feel like the issue of student loans has always been there because people are always going to college and that it is something that is important and should be something that is discussed more.
http://www.nytimes.com/2009/02/26/business/26student.html?ref=education

The third article that I read was “An Option to Save $40,000: Squeeze College Into # Years,” by Tamar Lewin was also found in the New York Times. This article talks about how you can cut college cost by getting a degree in three years instead of the normal four. Hartwick College in New York will option this option to students in the fall with the hopes of saving $40,000. The program is designed so that students will end up with 120 credits 18 in fall and spring and a January term of 4 credits. With the way the program is designed students should not have to take any summer classes. Even if the college does not offer the three year program their tuition is still expected to rise. The college expects that many students will be interested in this option. In the article several people give their opinion of what they think about the program. Many people think that it will work but say that it is not an easy thing for a college to do. If Hartwick decides to use this program it will only be offered to students who have a 3.0 or higher and will only be offered in 22 out of 31 of their programs.
I found this article to be very interesting. I think that if it is possible to graduate in three years then it would be nice for colleges to offer it because it will save many students a lot of money. I think that for some majors it would be difficult to graduate in three years without attending summer school or taking extra credits during a semester. I think that if more colleges offered programs like this that many students would be interested, but one drawback is that like at Hartwick it is not offered for all majors.
http://www.nytimes.com/2009/02/25/education/25hartwick.html?ref=education