"This is supposed to be a boring, ho-hum election," said Dr. B. K. Marks, interim president at Sam Houston State. "With state revenues decreasing and loan usage increasing, this vote could decide whether some students stay in school or not."
Proposition 1 authorizes the Legislature to let the Texas Higher Education Coordinating Board issue up to $300 million in additional general obligation bonds for educational loans.
Marks pointed out that Coordinating Board figures show that state appropriations to Texas higher education decreased 16.1 in the past 10 years in constant dollars, and the demand for loans increased from $12 million in 1987 to $90 million in 1994.
The Hinson-Hazlewood Loan Program, under which the program is administered, has loaned $900 million to 240,000 Texas students since it was authorized in 1965. If Proposition 1 fails, lending would be cut from $75 million per year to $20-$22 million for approximately 4-5,000 students.
Failure to authorize the bonds could have also have an adverse affect on the Huntsville area economy, said Marks, in that it could affect SHSU enrollment.
Nov. 6, 1995