University of Waterloo

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Thursday, August 17, 1995

Editorializing about student loans

The Globe and Mail, in an editorial yesterday titled "Better student loans," has lent its two cents to the vexing question of loan reform. It recognizes that "a good student loan program is the ultimate form of economic development," but judges the current system to be less-than-good: "A good student-loan program ... must meet two requirements: that it will be repaid, and that it will not cripple our graduates into unproductive despair. Canada's system currently falls short on both counts."

The paper's prescription? Begrudging support for a type of income-contingent loan repayment plan, such as the one Human Resources Minister Lloyd Axworthy is currently discussing with some provinces. Such a scheme is endorsed by 76 per cent of students, the paper reports, and "is appealing to governments, which would see a better return on their investment in higher education."

But there is a fly in the income-contingent ointment, the paper admits: "There is mounting evidence to suggest that a large-scale income-contingent scheme might be unworkable, with an upfront fiscal investment in the billions."

The paper thinks solutions might include "increasing amortization periods, ... adding a measure of income sensitivity, ... [and] making repayment 'graduated' so it increases over the years."

Stay tuned for more opinion- and policy-making on the merry-go-round of loan reform. Hold on to your wallets!

Volunteers wanted

The Volunteer Action Centre has the following positions available for the week ending August 18:

Office Caretaker - responsible for cleaning and maintaining a main office, board room, two warehouse offices and a kitchen area. Approximately two hours a week, either before 8:30 a.m. or after 4:30 p.m., will be required. Quote #149-1314.
Child Care Provider - You will assist children's program staff set-up and run a children's program. Age groups consist of infants to six years, early-elementary age and pre-teens. Two hours a week for three months are required, and this position may lead to a paid, part-time position. Quote #101-1011.

Call the VAC at 742-8610 for more information.

Birthday wishes to ...

... John Lenard of mechanical engineering and Sue Koebel of financial services.

Also celebrating birthdays today: actors Robert DeNiro and Sean Penn,tennis player Guillermo Vilas and auto racer Nelson Piquet. It's also the anniversary of the birth of American frontiersman Davy Crockett, born today in 1786. He died in 1836 defending the Alamo.

Celebrating Indonesian independence

Today is independence day in Indonesia, a national holiday. Upon the withdrawal of the Japanese 50 years ago today, Indonesia was declared a republic.

Horacio Oliveira
Information and Public Affairs, University of Waterloo
(519) 888-4567 ext. 5719
hmolivei@nh3adm.uwaterloo.ca

Editor: Chris Redmond, credmond@uwaterloo.ca