The Best of Our Knowledge # 945

Albany, NY – EDUCATION HEADLINES AND UPDATES/STUDENT LOANS -

Due to the strained economic climate, we're starting our show again with a quick update. College students want to know, will they be able to get a loan to enroll in school next year?

The 700-billion dollar financial bailout that was approved earlier this month, while aimed mainly at helping banks hold failed mortgages, will also hopefully help the government buy assets related to student loans.

The bailout law makes it possible student loan providers will be permitted to go beyond the terms of an earlier bailout (5 months ago) and sell assets to the government that are based on older federal loans. This could include private student loans that banks issue outside the government system of federal subsidies.

According to The Chronicle of Higher Education, that authority was opposed by a coalition of 13 groups including The American Association of State Colleges and Universities. Those groups said that if private student loans were made eligible for government purchase in the mortgage bailout plan, then congress should provide student loan borrowers with the same protections given to homeowners including the right to discharge the debt through bankruptcy.

But, the bailout bill was supported by the American Council on Education which argued that the nation's credit crisis was beginning to have adverse effects on many colleges and universities.

In signing the bill, President Bush said, More families will be able to get loans for cars and homes and college education. Lots of students hope he's right.

As of our show production deadlines, the bailout was slowly being implemented and its impact on student loans not yet fully known.

Glenn Busby reports. (1:30)

THE ECONOMIC LITERACY PROGRAMS OF GIRLS INCORPORATED -

The markets have been all over the place this year, like a roller coaster ride, up and down. This of course makes financial education more important than ever.
Children are obviously taking math in school, but who's teaching them about money? Well, if you're lucky enough to live near a chapter of Girls Incorporated, the answer is, they can help build money skills.

For many years, Girls, Inc. has been teaching its Economic Literacy programs to girls' ages 6 to 18. Programs which help girls make more informed financial decisions include: She's On The Money; Dollars, Sense and Me; Equal Earners, Savvy Spenders; Futures and Options; Mini Society; and now a new Money Talks one-day workshop.

We wanted to understand how this all works. So we invited members of Girls, Inc. of the Greater Capital Region into our studios to find out. This regional affiliate serves some 30-thousand girls in a very large seven-county-wide area.

Featured in the story are:
Teri Bordenave, President and CEO of Girls Incorporated of the Greater Capital Region for the past 20-years. She was also a member of the National Girls Incorporated Board of Directors for 7-years.
12-year old, Netanya Frasier, a 7th grade student at Central Park Middle School in Schenectady, New York. She's been in the money programs for four years.
And Tony Skrabalak, representing the Allstate Foundation which helps support the financial programs at this Girls, Inc.

Glenn Busby reports. (13:53)

**(Attention Listeners and Program Directors. The website given at the conclusion of the above story to read more about the Girls, Inc. economic literacy programs is: www.girlsinccapitalregion.org.)**

EDUCATION REFORM, MONEY AND POLITICS. -

In last week's show, we reported how the presidential candidates differ on key education reform issues. For instance, Senator Barack Obama opposes the use of public money for private school vouchers. On the other hand, Senator John McCain thinks it's okay to use public money to provide vouchers for low-income families.

Well, now that uncertain economic times are added to the mix, a national organization is calling for a top-to-bottom review of the U.S. education system.

The Alliance for School Choice is stepping up the call for vouchers and tax credit programs, considered: key elements in both economic and education reform.

Arguing differing views on this subject are: Andrew Campanella, Director of Communications for the Alliance for School Choice; and Richard Iannuzzi, President of NYSUT - New York State United Teachers.

Dave Lucas reports. (3:40)

**(Attention Listeners and Program Directors. The relevant websites pertaining to the above story include: www.allianceforschoolchoice.org., and the New York State United Teachers at: www.nysut.org.)**