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ERIC Number: ED042419
Record Type: Non-Journal
Publication Date: 1967-Aug
Pages: 24
Abstractor: N/A
Reference Count: N/A
Educational Opportunity Bank.
President's Science Advisory Committee, Washington, DC.
This report presents a proposal for the establishment of the Educational Opportunity Bank as an agency of the Federal Government, authorized to borrow money at going government rates, and to lend money to postsecondary students regardless of the student's resources. The Bank is to recoup the loans through annual payments collected in conjunction with the borrower's future income tax. Its objectives are to increase: (1) the total financial resources available for undergraduate education; (2) the freedom of individual institutions to set their own priorities; (3) the viability of private institutions of higher learning; (4) the number of students from low-income families attending college: (5) the probability of good matching of students from low - and middle-income families with institutions suited to their needs; (6) the extent to which students can take responsibility for their own education. The Bank aims to reduce demands by middle-income parents that expenditures on their children's higher education be made tax deductible, and the disparities in opportunity between rich and poor states. Possible disadvantages and alternatives to the Bank are discussed, as well as problems that will require further study. Financial calculations concerning the operation of the Bank are given in the appendix. (AF)
Superintendent of Documents, U.S. Government Printing Office, Washington D.C. 20402 (#0.15)
Publication Type: N/A
Education Level: N/A
Audience: N/A
Language: N/A
Sponsor: N/A
Authoring Institution: President's Science Advisory Committee, Washington, DC.