Yes for Proposition 2

Proposition 2 of the proposed 16 constitutional amendments, would authorize 500 million dollars worth of low-interest student loans and would add to the depleting student aid funds now available. This proposition is a great idea because the bond would not take away any taxpayer’s money. The money would also allow more students to better themselves and reach for higher education. Higher educating the upcoming generations of our citizens will help the future of our state. Also having a non-profit state agency would make the students’ loan rates significantly lower than what students will get on the commercial loan market. And since the loans will have a lower interest rate, they will help students pay off their loans without costing them too much money and getting them into too much debt after they graduate. The bonds also would not count against the states’ debt limit, since the investors will be reimbursed with the students’ loan payments. By 2009 the coordinating board’s bonding authority will run out if proposition 2 is not approved. In today’s world education is more important than ever and this commitment would benefit Texans for years to come. Proposition 2 offers a rare opportunity to invest in higher education our future leaders and without increasing taxes.