Student Loans: Risks and Realities

Student Loans: Risks and Realities

Student Loans: Risks and Realities

Student Loans: Risks and Realities

Synopsis

This timely volume objectively addresses the major issues and questions raised about student aid programs. It examines the realities of student loans and provides a balanced analysis of the present and future prospects for financing higher education. Educators, guarantee agency administrators, and state and federal officials analyze student indebtedness and the repayment of loans. They evaluate how five other industrialized nations structure grants and education loan programs and address the challenging problem of extending opportunities for higher education to low-income students.

Excerpt

United States SenatorRobert T. Stafford

Massachusetts led the colonies in developing the public concept of universal education in the 1600s. In 1837 Mount Holyoke College, the first college in the country devoted to the education of women, was established in South Hadley. In 1839 Framingham became home to the first teachers college in the country. In that same year Massachusetts' native son, Horace Mann, often called the father of public education, was appointed the first state commissioner of education in the country. In 1861 the Massachusetts Institute of Technology was established and soon became, in 1862, the first land grant college and has set a tradition of excellence in the sciences acknowledged throughout the world. And, finally, 1986 marked the 350th anniversary of the establishment of one of the most prestigious institutions of higher education in this country, Harvard University, which-- along with the other fine public and private higher educational institutions in Massachusetts--has made profound and significant contributions to our nation's well-being. In short, Massachusetts' higher educational institutions have led in the development of a system of higher education in the United States that is without equal in any other nation, and educational leaders in Massachusetts have worked hard to provide all of its citizens with access to education--not only the typical student, but also students with special needs.

Those who deal with higher education issues so often focus on day-to-day crises that they sometimes forget the important nature of education and its true purpose. Throughout history, higher education institutions and the learning opportunities . . .

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