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Prop 3: Student Loans

By BJ Austin

Dallas, TX – Early voting began October 24th next month's state constitutional amendment election. There are 10 amendments on the ballot.

Proposition 3 would increase the amount of bonds the Texas Higher Education Coordinating Board can sell to provide low-interest student loans.

Dominic Chavez, with the Board says increasing debt is a red flag for some voters. But he says this "borrowing" will not burden taxpayers.

Chavez: I think once people understand that this is not going to raise their property taxes, their state sales taxes or any sorts of fees that they pay; that it's student who are supporting this program, the borrowers that are supporting this program, it makes people a little more comfortable with the borrowing authority of the Coordinating Board.

Chavez says the College Access Loan program has been operating for more than 40 years. He says demand is increasing. Last year 61% of Texas college students had loans of some kind.