Published since 2005. San Francisco is a city that belongs to the people of the world. Hence this blog has a global focus. The name "Sam Spade's San Francisco" refers to an exciting era in the City's history, the time of Dashiell Hammett's fictional gumshoe and San Francisco character, Sam Spade. My name is Tom Dunn and I edit the blog. I'm not as exciting as Sam Spade, but I am definitely a San Francisco character.Contact or on Twitter -- Search blog below.
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Friday, February 23, 2007
Save the Perkins Loan
Despite three attempts by the Bush Administration to eliminate thislongstanding program, Congress strongly supported Perkins Loans in FY2006.
The financial gain the government seeks to recover by cutting the PerkinsLoan program is dwarfed by the hardship these cuts would create for the750,000 students from low-income backgrounds who benefit from the loanseach year. Through matching grants from academic institutions and therecycling of interest payments into loans for future applicants, PerkinsLoans represent one of the more cost-effective student aid programs.
Without the availability of low-interest loans, college graduates seekingto qualify for the higher paying jobs that require a college degree end uptrapped in debt peonage, struggling to pay for their college educationthroughout their most productive years. The elimination of Perkins Loanswould further chip away at America's middle class, and remove one morerung from the ladder of upward mobility.
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