Thursday, August 9, 2007
In response to Laws Vs. Liberty article on “B-on-Time Project” I have to agree. Personally having the B-on-Time loan I do understand the benefits of it. It is a loan that you do not have to pay back if you meet the requirements (graduate with 3.0 and in 4 years). I found out about this loan during my freshman year by one of my friends. I was immediately accepted into the loan. The loan has another advantage if you do not make the forgiveness requirement it becomes an interest free loan. This loan has huge potential and should be available to all. With my next semester coming up I received an email telling me that my loan wouldn’t go through till after September because of financing from Texas. The main reason that I accepted the loan was for the forgiveness; my little brother went to a two year school and was able to also get accepted for the loan. He was able to maintain the requirements and did not have to pay anything back. With the popularity increasing in this loan I have noticed a problem with Texas A&M. I initially got into the program knowing that they gave engineering students 5 years instead of 4; Texas A&M has gone in and stated that Engineering is a four year degree. So I don’t know if the current cuts in money have caused for this statement but I still endorse the Loan to anyone looking for help with rising cost.
Posted by DEM