Michael L. Hays, Ph.D., sent this interesting suggestion to address the problem of student debt. I was reminded when I read it that this issue came to a head in 1972, when Congresswoman Edith Green from Oregon fought for the idea below, that is, sending federal money to colleges to use for need-based scholarships. On the other side from Green was Senator Claiborne Pell, who advocated direct federal loans to students, not to institutions of higher education. Pell won and created the Pell Grant program, which some have likened to a voucher for higher education. Now these issues are being reconsidered as Presidential candidates debate what to do about the soaring cost of higher education and the crushing burden of debt that so many students carry.
Recent campaign proposals to address the problems of student debt called my attention to the context of those loans and the mechanisms…
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