I've come across a blog posted on Empower Texas by Dustin Matocha, a social media coordinator for Empower Texas and a current UT students pursuing a degree is Management and Government, about the upcoming elections for more constitutional amendments (Texas loves amendments!) regarding Proposition 3 and paying for college.
Since, I'm currently in college at ACC and plan to transfer to either UT or Texas State in pursuit of a new career this is sort of interesting to me personally. Lets start with putting exactly what Prop 3 says via the Votexas.org website which states:
Proposition Number 3 (SJR 50)
SJR 50 would amend the constitution to authorize the Texas Higher Education Coordinating Board or its successors to issue and sell general obligation bonds on a continuing basis for the purpose of financing educational loans for students, subject to certain constitutional restrictions, including a restriction as to the maximum principal amount of bonds outstanding at any one time.
The proposed amendment would appear on the ballot as follows: "The constitutional amendment providing for the issuance of general obligation bonds of the State of Texas to finance educational loans to students.”
Matocha asserts that this will only cause more issues by giving the Texas Higher Education Coordinating Board permission to build debt and drives up the cost of education by allowing more subsidized educational loans available and allowing no free market.
I'll be honest, the guy has me sort of convinced.......I'm not an economic major but it makes sense to me and I've always wondered how the cost of education was being drastically increased. If this is all true, who does the American person blame? State? Government? or educational institutions? There's many people who depend on these types of loans so, I'm not going to blame the students for wanting cheaper loans. That's just silly!
I'll have to agree with Matocha in him saying the effects of having no free market causes higher prices, having a monopoly isn't really a good thing for consumers since they can charge whatever they want because there's no competition. And agree with him stating how the verbiage on the proposition is vague, I'm not sure how I feel about this being on a "continuing basis". We'll have to wait to see if this proposition is first approved by whoever goes out to vote, and if it's passed, then wait for the positive or negative effects.
Matocha writes for a general audience, his point of view and explanation is easy to understand but his credibility isn't mature, yet at least. Matocha is a 21 year old college student who works for Empower Texas. After reading this, I asked myself whether or not to believe this kid? From my point of view, he's just a kid but then I wonder if he has any real agenda or motives to kill this proposition. Why would a college student dislike a proposition that could possible get him cheaper loans? Matocha is either right or has an agenda and is devilishly clever.
The things that make you go, "hhhmmmm....?!"
I'll be honest, the guy has me sort of convinced.......I'm not an economic major but it makes sense to me and I've always wondered how the cost of education was being drastically increased. If this is all true, who does the American person blame? State? Government? or educational institutions? There's many people who depend on these types of loans so, I'm not going to blame the students for wanting cheaper loans. That's just silly!
I'll have to agree with Matocha in him saying the effects of having no free market causes higher prices, having a monopoly isn't really a good thing for consumers since they can charge whatever they want because there's no competition. And agree with him stating how the verbiage on the proposition is vague, I'm not sure how I feel about this being on a "continuing basis". We'll have to wait to see if this proposition is first approved by whoever goes out to vote, and if it's passed, then wait for the positive or negative effects.
Matocha writes for a general audience, his point of view and explanation is easy to understand but his credibility isn't mature, yet at least. Matocha is a 21 year old college student who works for Empower Texas. After reading this, I asked myself whether or not to believe this kid? From my point of view, he's just a kid but then I wonder if he has any real agenda or motives to kill this proposition. Why would a college student dislike a proposition that could possible get him cheaper loans? Matocha is either right or has an agenda and is devilishly clever.
The things that make you go, "hhhmmmm....?!"
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