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By Kevin Gauthier

The President of the Student Union, Kevin Walker, and the President of the university, “Peter Meincke, met with members of the Committee on the Study of Financial Aid of the Maritime Province's Higher . Education Commission, (now that's a mouthful, isn't it?)on Tuesday of this week. They issued a joint stau-,emr—znt to the Ccmnittee on the Student Aid _Plan in P.E.I., following the basic tenets of a report prepared by Directoriof Student Services, Jim Griffith. . 1 ’

In their presentation, Presidents Walker and Wake outlined several major problems with the present student loan plan, and suggested poSsible alternatives to the present plan. By far the most interesting aspect of their presentation was a recomendation that the federal government institute ‘ a Registered Mucatim savings Plan. Indenticalin principal to such schemes as Registered Retirement Savings Plans or Registered Home-Ownership Savings Plans; 'the R.E.S.P. Would allow parents to deduct from their taxable income money set aside for the higher education of their sons or daughters. Such a plan'would have davi’ous benefits for many students and might cause parents to think of their chilren's education, earlier than they otherwise might.

The Presidents also call Pfo'r the Federal _ goveriment to assume a larger share of the ' financial burden, while at the same time allowing the province and the university greater leeway in deciding eligibility and need. N ' , .

The Financial Aid Committee of the MPHEC was established in the Springof 1979. Its basic purpose is to examine in detail the student aid plan, how in functions in the Writimes, and what might be doneto improve it“ There is student representation on the‘committee but, as usual, not enough. The committee is top-heavy with pro-4, fessionals and lay people, while students are in a distinct minority. But, after all, it's only our money, our education; and our lives they are deal- ing with, so what can you really expect?

The student loan plan is sate/mat of a mixed , blessing for university students: If not for this source of money, many of us would not be able to afford" to attend university. But in its present form, the loan plan often causes one to’wonder whether ornot it is’worth/all the trouble. To» start with, the application process for a loan ' forces you to reveal everything about yourself except your favorite fantasy. Secondly, the interest rates are certainly no gift, although the government thinks they are being g‘eneroUs by- delaying payment demand until after graduation. Actually, if one thinks a bit, the time when re— Paymlert schedules begin (6 months after graduation) . }S_precisely the, when we can least afford to begin re—payment, what with the cost of setting “9 a home of our own, «etc. Why not delay re: Pal/Kent for 18 months or 24 months after gradfiation.

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Another’fault outlined in the report concerns bursaries and scholarships. At the present time, awards of over $500 are counted against a loan. Now I ask you, why should a student who has either (a) demonstrated exceptional scholastic ability, or (b) demonstrated exceptional financial

, need be penalized by the government because some- body has responded to his/her special circumstan— ces? Bursaries and scholarships (other than full tuiticn) should not be considered in deciding financial need.

But what is apparaut to me in the whole student loan/financial aid fiasco is an attitude on the part of the goverrment that they are doing us a tremendous favor by lending us money at market ihterest rates and, delaying re-payment until we are finished our education. Well, if that can be called a favor, it is certainly a half—hearted attempt. What are they actually giving Us? Nothing. 'lhey are repaid with interest. But one might say, "Aha!!! What of the bursaries?" What of them? Most of the bursaries awarded on P.E.I. barely cover the cost of textbooks and supplies. What the government of this province Should realize is that“— students who attend university do so at tremendous expense, and when we graduate, we are tremendous assets to the province and our society. In a province like P.E.I. , which is, relatively speak— “ ing, poor and underdeveloped, our only hope for advancement lies in an educated, competent population, who have the training and experience to improve our society, our economy, our lives. If our _, government could only realize that money invested in an education will be repaid countless times over by our' contributions to the commmity, then student loans would not be (a) so” difficult to get, (b) so difficult to live with, and (c) so difficult to pay'back. It seems to me one of life's ironies is that a government would want to exploit those of its citizens who are trying“ to better themselves and their society.

THE UPEI SUN, Thursday, Nov. 1, 1979, page 9

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Q CIMNQ I WINNERS

Tim Sears Donna Gallant Susan Bulger Rick Gallant

Maureen Hartman

Derwin Banks Ann Higdon Don MacNeil John cairns

We at CIMN along with Kelly's Stereo Mart would

others- that we.are planning similar contests for the future.

_ This Friday, November 2, a representative from CFCY will be at CIMN's studio. He will give a‘

short talk on.radio and hopefully give us a few

helpful hints. Everyone is welcome, so bring

a friend to hth floor Main this Friday afternoon

at 2:00 o’clock. Coffee and doughnuts will be provided.

like to congratulate these album Winners and remind