4 -The Michigan Daily - Wednesday, June 7, 1995 420 Maynard Ann Arbor, Michigan 48109 Edited and managed by students at the University of Michigan RONNIE GLASSBERG ADRIENNE JANNEY Editor in Chief JOEL F. KNUTSON Editorial Page Editors Unless otherwise noted, unsigned editorials reflect the opinion of a majority of 4 the Daily's editorial board. All other articles, letters and cartoons do not necessarily reflect the opinion of the Daily's editorial board Governor John Engler's latest financial concoction is a ruse reminiscent of the old game show "Let's Make a Deal" where contestants were tempted to exchange large sums of money for whatever was behind the curtain of choice. Except taxpayers who step up to buy Engler's new Michigan College Savings Bonds will risk more than game show cash. Lured by Engler's deceptive packaging of his college fi- nancing plan they will be throwing away hard earned dollars to take a peek at a white elephant. Engler's program is a clumsy attempt to bandage the gaping wound that he created when he axed the Michigan Educa- tion Trust - the state's highly popular pre- paid college tuition program. To silence critics and disgruntled parents, Engler hawked his tax-free state bonds for a two week period that ended June 5. The bonds are a poor substitute for MET, and a mediocre investment. Like MET, Engler's plan assists those who can on short notice call up a large sum of money. After all, only those who could raise a large initial lump sum within the two weeks Engler opened the program, could invest in it. Thus, the bonds do not Recycled investments Engler cashes in on higher education bonds address the major shortcoming of MET, which mainly benefited the upper classes. MET allowed parents to pay for tomorrow's tuition at today's costs. Con- tract holders pre-paid many years in ad- vance for up to four years of college educa- tion for their youngsters. In return, the state promised to pay tuition costs for the child at any Michigan public university. Essentially, parents were given a reassuring guarantee that tuition costs would be taken care of by the state. Steep tuition hikes at colleges made MET a dubious investment for the government, and Engler froze enrollment in the program in 1991. Unlike MET, which actually proved to be such a good bargain that the state feared it would not be able to make good on its contracts, -Michigan will not undertake a risk with the bond program. The state merely guarantees to pay a fixed interest rate of 5.5 percent -an almost record low -to inves- tors. Those who buy the zero coupon bonds long-term - parents who want to start a college fund for their young children - would be wise to take their business else- where. Since buyers do not get any money back until the bond matures, they will be stuck with the current uncommonly low interest rate for all the years that they hold the bond - what a deal. In fact, there is nothing magical or inno- vative about Engler's bond program. Bonds are a common investment that need not be offered by the state - private financial firms could easily match and beat the deal. Furthermore, since the college bonds pay at such low interest rates, there is no guaran- tee that they will be able to offset rising tuition costs. This is the hidden risk in Engler's bag of tricks that may jeopardi the future of many families who think th they have secured the cost of a colle education. Clearly, mounting college costs is a cr sis that needs to be addressed by the gov nor and the Michigan Legislature. If it ca not make MET economically viable an Accessible to lower- income families, Mich gan can use other means to address colleg funding. The state has untapped power th it could wield to decrease the cost of college education. Since runaway tuition increases wer the guillotine that killed MET, the govern ment should question the need behind th increased costs. The government could t the money set aside to implement the bon. program, and use it instead to investigata ways to trim the budgets of state universi ties. Surely there are excess administrativE costs that could be eliminated. It is time for Engler to return to thi drawing board and design a plan that uset the powers of the state to solve the colleg finance problem-without forgetting thos students with the most need for assistan4 A little creative financing is in order here along with an even distribution of resources 'Back to their place' Wilson prevents Penetration of glass ceiling C alifomia Gov. Pete Wilson, the Republi- nario, California will return to the days when can who won re-election in November higher education was reserved for wealthy through his criticism of illegl immigrants, white males. The Board of Regents of the UC struck a blow to equality and fairness by systeni conduc-ted a study that found if affirma- moving last week to limin th iate's tive action were eliminated at B rkeley, the affirmative action policie. Wilon. a hope- number of Hispanics would drop to hetween 3 ful forthe Republican presid otial nomination, percent and 6 percent from a current 15.3 showed that he plans to make affirmati e action percent, and the number of Black students a major issue in his campaign - pushing his would drop to less than 2 percent from the party further to the right. Under this move, current 6.4 percent. By impacting the top schools Wilson said that except where federal and state of University of California at Los Angeles and laws and judicial decisions have mandated UC-Berkeley, Wilson's action will send shock affirmative action, the basis for state employ- waves to allof higher education. Fortunately, at the ment, promotion, contracting and school ad- University, President James J. Duderstadt has re- mission policies would be solely merit, not cently reaffirmed his commitment to affirmative race or sex. In this action Wilson has at- action, and he continues to focus on the Michigan tempted to use the anger of white men - Agenda for Women and the Michigan Mandate, many of whom are fearful of unemployment programs that work toincrease women and minor- - to blame minorities and women for the ity representation at the University. And members lack of jobs. Instead of working to ensure that of the Board of Regents must continue to support more jobs are available for those who need these programs, even if their personal political them, Wilson has used affirmative action as a philosophies do not. scape goat in his presidential bid. "With one While affirmative action programs are criti- swoop of the pen, Gov. Pete Wilson will be- cal at universities, they are still important for come infamous for taking Californians back to the American workforce. Women and mi- an era where women and minorities 'knew their norities have not yet broken the glass ceiling, place" said a statement from the Mexican and until they do, affirmative action will be AmericanLegalDefenseandEducationalFund. crucial in ensuring diversity. If such pro- Thirty years is not a sufficient :mount of time 'rams are withdrawn sy s Wilcon is do- to make sp fortetunie otp it di crimination. ing in California, di criiin0 a tinst r the tesn tim, Wis' mo will women and minorities could inCrase as they toM ea to iff the plilie t Caifotni' will not be in top decisitn mkin" positons. public collEc and onveities, whcre- dc- Affirmative action tmst ntty be Ctided aftrI pendenist ards oversee opeations. How- woneon and- rnonoriiies are repCsent pro- ever. Wilvon can use his appointments to pttrtioitaiely in tvtp executive ptsitionts, and at these hoards to cod affirmatiae action at his the prevett time, t arc non. The end is state's ttnivcrsiis. In the wvorst ease see- towitere in sight. 'Moving forward'? Leaving students in the dust of the code is April the Board of Regents placed the area of gathering student input. Three other code in the hands of Vice President for students learned of the meeting, showed up Student Affairs Maureen Hartford, with spe- the conference room in Hartford's office and cific guidelin :and a mandate to gather student were refused entry by Bernard and Judicial input. If H-anord and her staff do not accom- Advisor Mary Lou Antieau. The students - plish the task by the December deadline, the VinceKeenanwhoisactivein StudentsAgainst regents will St p in and complete the new non- the Code, Pam Short of Student Civil Liberties acad mi- conduct -ode. Hartford has been dili- Watch and MSA President Flint Wainess-left gently gathering a committee, and is doing after Bernard threatened to call security. So everything possibleto set them in motion. How- much for student input. Antieau says that the ever, from a student perspective, there are some meeting was closedbecause it was a time for the problems with the way steps are being taken. committee to "develop some norms for a w The student committee working on the code group," like where and how to work. She be- thus far consists of four students. Each student lieves that it would be inappropriate to open any is being paid for the estimated 15-20 hours per such meeting. Antieau added, "They were not week spent on the code. Jack Bernard and Sean talking about the code or making any decisions McCabe are University graduate students who about the code.".No, they were making impor- already worked in Hartford's office. Anne tant decisions about how to include students in Marie Ellison, chair of the Michigan Student the code-writing process. Assembly Student RightsCommission, is vehe- Attempting toremedy this, members ofMSA mently opposed to the code. Maggie Kinnear plan a resolution stating that no member or from Emery College, who is incidentally the appointee of MSA may participate in a closed daughter ofInterimVice President for Develop- code meeting. Unfortunately, of the four tl ment Thomas Kinnear, was chosen for her would only affect Ellison, who left the closed background in constitutional law andcivil liber- meeting in protest. ties. Hartford said. Ellison seems to be the token Antieau is also a part of the problem. As the choice to appease students. Coming from personwhointerprets andenforcesthecode, she Hartford's office. Bernard and McCabe will should not be involved in the writing. Though have to ptri e ihemselves not to be mere admin- she is not directly involved, there is much influ- itttin lake ,-.The :eleetintt iof Kinnear is ninilradvisorycapacity. She s-id, "Maureen bolsiered stmtwhat by lcer baekgrsnd -- but he - :k d m ttk' leadership ttmaking sure she is nt aUniversity stuidetn, and ite new ceide that i-mot it. ferw aed itt a met ai tg feil wi ay ts nsa scpp ised tit be legalisic aetcoring tot the Like til code, that statemenst is rtet nitisa -eens --so -why ttre heraeretasof expertise itrprcaimis What is tuly itppmreiae is iteeessairy? ttty rttic fte Atiettu ita the writing process Still in tte plaitning sages, they tct tt May Despite "oving forward the stadettts are 22 to decide how to prtced,. paticilal in the beint let behintd, forgotten.