Chapter 5

Question 6)
The chapters introduction was truly intriguing. The Hope Scholarships were a in theory a great idea, but basic self-interest ran the program into the ground. It was then only supported by government subsidies. This all happened because students calculated their projected income over the next 15 years of their lives and figured if they would pay less with or without the this loaning program. It led to the students not opting in if they would make a lot and lower earning students opting in to a program that in the fifteen years they would work, would cost them less. 1.5% of fifteen years is a lot for a some and little for others. People picked what worked best for them, what would save them the most money, what was in their own self-interest. I would give Bill Clinton an A for effort, but he didn't take into account that people will weigh their options and act in their own self-interest.