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September 14, 1967 - Image 8

Resource type:
The Michigan Daily, 1967-09-14

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Educational Groups Oppose Student Loan Plan

Collegiate Press Service
A recommendation that the
federal government establish a
novel loan program to help under-
graduates pay for their education
faces stiff opposition from two
powerful college associations.
If adopted, the plan, proposed
by a White House advisory panel,
could drastically alter the present
system of financing American
higher education.
The proposal calls for the esta-
blishment of an Educational Op-
portunity Bank authorized to bor-
row money at going government
rates. The bank would lend money
to any undergraduate coll'ege or
other postsecondary student for
financing his education in return
for an agreement by the student
to pay back a small percentage of
his annual income for 30 or 40
years after graduation.
Opponents of the loan program
say it would shift the major res-
ponsibility for support of higher
education to the students.
In addition to providing funds
for students to attend college, the

plan is designed to make it easier
for colleges arid universities to
raise their tuition and other
charges. With students able to
borrow all the money they need
for their education, both public
and private einstitutions would no
longer feels obliged to keep prices
as low as possible.
The Educational Opportunity
Bank was recommended by the
Panel on Educational Innova-
tion. The panel's report was made
public September 8 without en-
dorsement of the Office of Science
and Technology.
No Recommendation
Shortly after the report was re-
leased, a joint statement rejecting
the recommendation was released
by the National Association of
State Universities and Land-
Grant Colleges and the Associa-
tion of State Colleges and Univer-
sities. The two associations repre-
sent more than 300 institutions
of higher education enrolling
more than half of all U.S. stu-
dents. An official for the Amer-
ican Association of Junior Col-

leges also opposed the proposal.
Preliminary estimates indicate
the bank could be self-sustaining
if it charged borrowers 1 per cent
of their gross income over 30
years for each $3,000 borrowed,
Thus, for example, a student who
borrowed $2,000 a year for four
years of college, or a total of
$8,000, and earned $10,000 in some
subsequent year would pay $266
that year, or $22 a month.
The report suggests the annual
payments be collected in con-
junction with the borrower's fu-
ture income tax.
The panel said a borrower
would have the option at any time
of withdrawing from the plan by
paying, in a lump sum, the
amount borrowed, plus interest
compounded at 6 per cent, with
credit for payments made earlier.
More Responsibility
An Educational Opportunity
Bank would "increase the extent
to which students can take res-
ponsibility for their own educa-
tion, instead of depending on a
'free ride' from either their par-

ents or the government," the
panel added.
Opposing the plan, Dr. Edgar
F. Shannon, Jr., president of the
University of Virginia and chair-
man of the excutive committee of
the National Association of State
Universities and Land-Grant Col-
leges, said, "Our fundamental
concern is that this proposal
would shift the responsibility of
financing higher education to the
student. Education is essential for
society's own self-interest and
should be the responsibility of
The joint statement issued by
the two major college associations
called the panel recommendation
"a Pandora's Box of ill-considered,
obsolete, and contradictory ideas
The statement continued, "It
is an ironic commentary on our
times that in this most affluent
nation in the world's history .. .
a panel should seriously take the
position that our society cannot
afford to continue to finance theI
education of its young people, and

must therefore ask the less af- ready rising spiral of student
fluent to sign a life-indenture charges," low and middle income
in return for the privilege of edu- students will be forced to borrow
cational opportunity." from it. Their statement expres-
The two associations warned sed fear that all of higher edu-j
that if the opportunity bank is cation will be dependent on the
successful "in pushing up the al- financial solvency of the bank
for its very continued existence.

Austerity Hits
'67 Bar Exams
Over five hundred prospective
lawyers, many of them University
graduates who took the Michigan
Bar Exam last August, will have
to wait five months before re-
ceiving word on whether they may
practice law in Michigan, attorney
Stanley Beattie told The Daily
Beattie, who heads the five man
Board of Law Examiners, explain-
ed that the problem is simply "too
many exams and too few exam-

Authors of the opportunity bank
proposal emphasized they were
not asking for a loan program as
such, but for "a device for en-
abling students to sell participa-
tion shares in their future in-
comes. They said their plan calls
for "contingent-repayment loans,
as opposed to the present pro-
grams, which they call "fixed-re-
payment loans."
Authors of the proposal also
emphasize it could increase the
viability of private institutions of
higher learning. They note that
if present trends continue, private
institutions will be enrolling no
more than. one-fifth of all stu-
dents by 1980, due to the ratio of


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In an effort to alleviate the situ- private to public college prices.
ation a proposal was introduced But the bank could alter this
in the state legislature to allocate trend, the report says, by "al-
$3,000 to pay ten readers to aid in lowing the price of education, at
grading the tests, but the measure both public and private institu-
was killed in a Senate committee
after being passed by the House. tions, to rise to something closer
Beattie described the cut as "part to its actual cost, as would be
of Rdmney's austerity program." made feasible by the bank."

The Daily Official Bulletin is an
official publication of the Univer-
sity of Michigan for which The
Michigan Daily assumes no editor-
ial responsibilIty, Notices should be
sent in TYPEWRITTEN form to
Room 3564Administration Bldg. be-
fore 2 p.m. of .the day preceding
publication and by 2 p.m. Friday
for Saturday and Sunday. General
Notices may be published a maxi-,
mum of two times on request; Day
Calendar items appear once only.
Student organization notices are not
accepted for publication. For more
information call 764-9270.
University Hospital Conference-An-
nual American Thyroid Association Con-
ference: Registration, Lobby, Rackham
Bldg., 8 a.m. to 5 p.m.
Lecture-Earl Darsch will speak on
"The United States Patent System,"
1 p.m., Multipurpose Room of the Un-
dergraduate Library. This is open to
the public.
Chemistry Dept. Colloquium - Dr.
William Jolly, of the University of
California, Berkeley, will speak on "The
Deprotonation of Weak Acids with
KOH," 8 p.m., 1300 Chemistry Bldg.
Bureau of Industrial Relations Sem-
inar-"Management of Managers No.
36": 146 Business Administration Bldg.,
8:15 a.m. to 5 p.m. and 7 to 9 p.m.
General Notices
Office .of Student Services: In the
Graduate School will move to new
quarters on Thurs. and Fri., Sept. 14
and 15. Telephones will be cut off
during that period. The office will open

I ac ~cval %ot R a m Unnr7av mnrninox { 1

se usua
ISept. 18."

at 8 aL. wonaa~Ly moring,I

All Teacher's Certificate Candidates:
The application for the teacher's cer-
tificate is due at the beginning of the
Junior'year. It should be turned in to
the School of Education, 2Q00 Univer-
sity School, by Sept. 15.
School of Nursing Tuberculosis Test-
ing Program-FalJ 1967: Freshmen -
Tests: Mon., Sept. 18, Room M5330 Med.
Sci. Bldg. Time: 4-5:30 p.m. Readings:
Wed., Sept. 20, Room M4108 SNB. Hime:
4-5:30 p.m.
Sophomore, 'Junior, Senior- Tests:
Tues., Sept. 19, Room M4108 SNB. Time:
3:30-5:30 p.m. Readings: Thurs., Sept.
21, Room M4108 SNB. Time: 3:30-5:30
Students may be tested on either
day, but it is hoped that they will
come on the day assigned if their
schedule permits.
Applications for U.S. Government
Scholarships for 1968-69 under the Ful-
bright-Hays Act: Must be completed
and filed with the Graduate Fellow-
ship Office, 1014 Rackham Bldg., by
Oct. 2, 1967. Under the Fulbright pro-
gram, over 850 American graduate stu-
dents will have an opportunity to
study in any one of 54 countries for
one year.
Candidates who wish to apply for
an award must be U.S. citizens at the
time of application, have a Bachelor's
Degree or its equivalent by the be-
ginning date of the grant, and in most
cases, be proficient in the language of
the host country. Selections will be
made on the basis of academic record,
the feasibility of the. applicant's pro-
posed study plan and personal quali-
fications. Preference is given to candi-
dates who have not had prior extended'
study or residence abroad, and who are
under the age of 35.
Application forms and information
for students currently enrolled at the-
University of Michigan may be ob-
tained from' the Graduate Fellowship
Office, 1014 Rackham. Deadline for
filing completed applications 4s Oct. 2.
1967. Qualified and interested students
are i urged to act expediently in or-
der that necessary procedures may be
completed by the deadline.
If you have any questions regarding
this announcement, please call 764-2218.
Hill And.: Special Events Series ush-
ers sign up in 1053 Administration
Bldg., Monday-Friday, 8 a.m.-5 p.m.,
Doctoral Examination for Janice Lee
Stickney, Pharmacology; thesis: "On
the Relationship between Catechola-
mines and Digitalis-Induced Arrhyth-
mias," Thurs., Sept. 14, Room 6314
Medical Science, at 9 a.m. Chairman,
B. R. Lucchesi.
Doctoral Examination for Melvin
Cleo Withnell, Edu ation; thesis: "A
Comparison of the Mathematical Under-
standings of Prospective Elementary
* Teachers in Colleges Having Different
Mathematics Requirements," Thurs.,
Sept. 14, Room 3019 UHS, at 10 a.m.
Chairman, A. F. Coxford.
Doctoral Examination for Joseph Hor-
owitz, Mathematics; thesis: "Semilin-
ear Markov Processes," Thurs., Sept. 14,
Room 3001 Angell Hall, at 10 a.m.
Chairman, J. G. Wendel.
Doctoral Examination for Jose Luis
Martinez Cortez, Physics; thesis: "Long
Range Electostatic and Electromagnetic

Interactions between Atoms." Thurs.,I
Sept. 14, Room 629 P-A, at 10 a.m.
Chairman, P. R. Fontana.
Doctoral Examination for Necia Ann
Musser, Library Science; thesis; "Home
Missionaries on the Michigan Fron-
tier. A Calendar of the Michigan Let-
ters of the American Home Missionary
Society, 1825-1846," Thurs., Sept. 14,c
Room 311 General Library, at 2 p.m.I
Chairman, R. E. Bidlack.
Doctoral Examination for Charlest
Shannon Holmes, Mathematics; thesis:x
"Projectivities of Free Products,"
Thurs., Sept. 14, Room 22 Angell Hall,
at 3 p.m. Chairman, R. C. Lyndon.
Doctoral Examination for Henry Le-
Van Fulton, English Language andx
Literature; thesis: "The Making of a
Reputation: John Moore, from 1729 to
the Publication of 'Zeluco'," Thurs,,3
Sept. 14, Room 1611 Haven Hall, at 4
p.m. Chairman, S. W. Baker.
Registration Meeting for Bureau of
Appointments, Teaching and General
Division-Sept. 14, Aud. B, Angell Hall.
Meetings at 3 and 4 p.m. Information
on services and forms will be available.
Recruiting begins Sept. 25, it is nec-
essary to register placement forms,
resume, with the Bureau before any
interviewing, employers expect this in-C
formation. The Univ. of Michigan offersI
-placement counseling and employer
interviews to all students and alumni,{
why not take adv'antage of this service.
U.S. Navy and Marines-Will be in-
terviewing and open for questions and
information Sept. 13, 14 & 15. No ap-
pointments necessary. 3200 SAB and
see receptionist.
Bristol Laboratories, Syracuse, N.Y. -
Bachelor level degrees-Chem., Microbi-
01., ChE, IE, Tech. Serv. Writer, EDP.
Packaging, Copywriter, Clinical Res.
Asst. Masters levels-Bacteriol., Bio-
chem., Chem. Analysis, Pharmacy, ChE,
MBA, Cost Acctg., Patent Atty. PhD
levels-Clinical Chem., Anal. Chem.,
Microbial., Parasitol., Protozool., Zoo.,
Personnel Consultants, All Mideast
Coast Firms - Manager, Mktg. Res.
"Training Officer. Personnel Admin. Cre-
ative Advertising, promotion, mktg.
serv. and sales proposals manager. Con-
sumer Psych. Systems Man. Field dir.,
med. fund raising. Adv. & Mktg. Editor
of Co. publications. Management trng.
Economic Analyst. Labor Relations Su-
pervisor. Manager of college relations.

Applied Mathematical Group Leader.
Tech. Illustrator. Media Mgmt. Trng.
La Crosse Lutheran Hospital, La
Crosse, Wis.-Executive Housekeeper, 3-
5 yrs. exper. in general hospital of 150-
400 beds. Degree desirable.
City of Pensacola, Fla.-Sanitation
Supt. Sr. Civil Engr. Civil Engr. Per-
sonnel Technician. Police & Court Rec-
ords Supv. Data Syst. Mgr. Accountant.
Recreation Center Leader. Ages 21-35
National Labor Relations Board, Re-
gion 7, Detroit, Mich.-Labor Manage-
ment Relations Field Examiner, de-
gree with appropriate coursework.
International Institute of Metropoli-
tan Detroit, Inc., Detroit; Mich.-Com-
munity Programsfor International Vis-
itors has request for bi-lingual Japa-
nese-American Program Coordinator/
Interpreter for Japan Productivity Cen-
ter. Requires travel over 200 days a
year. Man 25-35, American or Japanese
citizen, college degree, Econ. or Bus.
For further information please call
764-7460, General Division, Bureau of
Appointments, 3200 SAB.
The following vacancies have been
recorded for the present semester:
Constantine, Mich.-J.H. Engl., Elem.
Eaton Rapids, Mich.-Elem. Vocal.
Gilbraltar, Mich. (Carlson H.S.) -
H.S. Chem./Sci., 7th-8th Eng./SS.
Northville, Mich. (Wayne County
Child Development Center)-Recreation
Positions, Child Care Positions, Coun-
Plymouth, Mich.-8th Grade Math/
Sci., 12th Grade Eng., H.S. Latin.
Pontiac, Mich. (P.S.)-J.H. Vocal.
Vienina, W. Va. (St. Joseph's Semnin-
ary)-9th-12th Math (Alg./Geom.).
For further information contact theI
Bureau of Appointments, 3200 SAB, 764- .




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NOUNCEMENTS is available to officially
recognized and registered student orga-
nizations only. Forms are available in
Pm. 1011 SAB.
Guild House sponsors Friday noon
luncheon, Sept. 15, 12-1 p.m., 802 Mon-
roe, Speaker will be Prof. George Grass-
muck, "Obstacles to the Solution of the
Middle East Crisis." There will also be
a dinner, Sept. 15, 6 p.m. Call for res-
ervations before Friday xioon-662-5189.
U. of -M. Chess Club meeting, Sept.
15, 7:30 p.m., 3C, 3rd floor, Union.
* * *
Christian Science College Organiza-
tion, weekly testimony meeting, every
Thursday, 7:30-8:30 p.m., 3545 SAB.
* * *
Concert Dance Organization is hold-
ing modern dance classes every Thurs-
day-7:30 p.m.' and Thursday, 8:15
p.m. at the Barbour Gym Dance Studio.
Classes are held for men on Thursday
at 7:30 p.m.
* * * *
South Quad Council (Smitty's) is
sponsoring a coffee house, featuring the
"P.F.'s", Sept. 15, .8:30 p.m., G103
-South Quad. ,


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