Protect Student Loans From Cuts

The Republicans in Congress must not expect to be in office for very long. Why else would they be mortgaging the country's future by threatening to slash student loans?

Republican budget hawks have threatened to cut the size of Perkins loans and the interest subsidy on Stafford loans. But the worst is yet to come--the Republicans also want to abolish the federal Work-Study program. These devastating proposals ominously recall a satirical piece that appeared on this page ("Contract With Harvard," Dartboard, Jan. 6, 1995). "The administration has cut 50 percent of aid allotments in order to trim Harvard's deficit...Sadly, Work-Study jobs now belong to the past," the piece joked.

The Dartboard article was all too prescient. Cutting the interest subsidy on the Stafford loans would raise students' payments for their undergraduate education by up to 19.4 percent in total. The neediest students would be charged proportionately, and thus hurt the most. At the loan maximum of $17,125, students would have to squeeze out an additional $3,320 in payments.

Annihilating Work-Study would deny hundreds of students jobs. Professors who could afford to pay students 30 percent of normal wages (the necessary contribution under Work-Study) would no longer be able to offer valuable training and income to undergraduates.

Instead of paying $2.25 towards a student's hourly wage of $7.50, Work-Study employers would have to pay the whole $7.50. Budgets for Dorm Crew, House Grilles and countless administrative jobs taken by students would suddenly show huge deficits.

The Republicans' proposals display an unprecedented short-sightedness. At a time when the nation's ability to compete and think creatively holds so much importance, legislators should keep education sacred.

Improving access to education is at least as worthy a long-term goal as balancing the federal budget. Only investment in human capital has unambiguously positive and exponential returns for growth in production and the economy as a whole. Leaving several billion dollars in the education budget now will develop invaluable yields in the long term.

The Republican leadership has promised across-the-board cuts to every program except Social Security and defense. We must ask why on earth these politicians feel compelled to throw money at fighter planes and protect this country's oldest generation while leaving its youngest hamstrung and hog-tied?

Harvard has its share of political divisions, but all students, faculty and administrators should be able to come together to protect student loans. Setting an admirable example, University administrators have strongly stated their commitment to safeguard need-blind admissions, come what may. President Neil L. Rudenstine should speak out nationally against the cuts. Still, many other schools do not have Harvard's immense financial resources; they will be forced to leave poor students without the chance to learn and succeed in society.

The importance and effects of activism cannot be understated in cases such as this. As students, we must make sure that all of Harvard unites in a vocal and vehement movement to keep educational programs untouched by the budgetary axe. In time, congress might again be dominated by politicians friendly to the needs of students; the Republicans' short-term thinking could be their downfall.