Cheap Student Loans? Voter's Choice.

Our legislature has proposed two constitutional amendments. One of them will grant students $500 million dollars in very low interest student loans, and the other will move Angelo State from under Texas State’s system to Texas tech’s system. The only thing complicating this transition is the fact that Angelo State has unpaid bonds they owe to the Texas State system. While I am quite certain they will iron out the kinks in this deal (in the matters of money it will always get worked out in the end) I think this is just a change in school jurisdiction. Critics of this claim the switch is “too hasty and ill considered”. All it is a switch in which school system the college is under. There isn’t much to be “ill considered”.
The $500 million dollars being proposed for low interest student loan money is an excellent idea. Many students need loans for college, and having a student loan that won’t break their bank when they graduate is something ANYONE would want. The best part is how the state is going to provide the funds. They want to issue $500 million dollars in bonds with low interest to come up with the money. The beautiful part about this deal is, when it comes time to redeem you bonds, the tax payers are not paying for ANY of it. The state is going to use the money the students pay back to pay for the issued bonds. Everyone, taxpayers, students, and the people redeeming the bonds, win in this deal. The only people crying about this bill are the banks. Opposition to this bill was solely about the banks need to make money like any other business. I understand why they would complain. This would cut into their cash flow. However, most banks have ramped up interest rates. I, for one, won’t mind getting a student loan with an interest rate that won’t require me to sell everything but the dog to pay back once I graduate.
This proposition is an excellent one in my opinion. I strongly urge everyone to vote in support of the proposition.

Student loans or no?