The Trail: A Daily Diary of Campaign 2008

Wherever the idea came from, it's a good one. I'm glad Senator Clinton is out front on it. Why? Because it could give more people an opportunity to graduate from college, to have a dream or two fulfilled, to buy a house for the first time, perhaps to continue on with scholarships and pursue higher degrees, to pass their knowledge on to their children. And also just for the sheer joy of learning new stuff and feeling good about it. Our country is so far behind in offering inducements of this sort. Many students graduate from college with an enormous lifetime debt. Not everyone has a nurturing family or a college savings account. How to pay for the $5000 program? Try eradicating a few chunks of corporate welfare, for example, to the oil industry whose profits are at an all time high.

Wherever the idea came from, it's a good one. I'm glad Senator Clinton is out front on it. Why? Because it could give more people an opportunity to graduate from college, to have a dream or two fulfilled, to buy a house for the first time, perhaps to continue on with scholarships and pursue higher degrees, to pass their knowledge on to their children. And also just for the sheer joy of learning new stuff and feeling good about it. Our country is so far behind in offering inducements of this sort. Many students graduate from college with an enormous lifetime debt. Not everyone has a nurturing family or a college savings account. How to pay for the $5000 program? Try eradicating a few chunks of corporate welfare, for example, to the oil industry whose profits are at an all time high.

I was born in 1972 and am female. I grew up poor enough for the "free and reduced-cost lunch" program at my public school -- but we had pride enough to pack our lunches, even if we did have to wear hand-me-down everything. I knew from a young age that I was expected to go to college and to support myself when I got out, so I started my first "business" at age five (killing ants), my second at age six (lemonade stand that my mom taught me how to make profitable), and babysat for 50 cents per hour per kid every opportunity I got until I turned old enough to get a job that paid minimum wage ($3.45). I SAVED like crazy that whole time -- usually about 85% of what I took home (10% was for tithe). I worked hard in school and earned a 50% scholarship; then I tutored during college and worked full-time during the summers to pay for the remainder of my $42K private college education. I bought myself a used car my junior year of college, and paid for all my car repairs myself. I graduated after four hard years with a 3.95 GPA, no debt, and $2K still in savings. My little brother came along four years after me, found part-time jobs paying 2X what I made per hour at my best college job, chose a state university, and graduated similarly debt-free. People don't need a hand-out; they need a work ethic, a savings ethic, a budget, and some personal pride instead of an entitlement ethic!!

You got to love it, if you are a college administrator. If all of the babies born in the US, at age 18 with a highschool certificate, were to go to a college/university how many more staff & buildings, equipment, etc. would need to be hired, purchased and built? More of her "socialistic persuasion" coming out of the closet. What a collossal stupid idea.

Of course her primary appeal is to the poor, dumb and frequently pregnant so this will probably work politically.

What a dumb idea.

Why She doesn't understand that it hits the family? Those money shouldn't be taken in taxes,but stay in rate-payers pocket. And why 5.000$? Why not 10.000$? It's crazy. Vote for Ron Paul! Laissez faire!

Rubbish.

Gordon Brown put baby bonds in the 2003 UK budget and they haven't worked out all that well:
http://www.guardian.co.uk/uk_news/story/0,,2105899,00.html
Baby bonds branded flop over low take-up
Hélène Mulholland
Monday June 18, 2007
Guardian Unlimited

Now Hillary is presenting this as her very own original idea? I don't know which possibility is more appalling: 1) she copies without attribution, 2) she doesn't keep up with the rest of the world, so she had no idea this had already been tried, 3) pure pandering attempt for the 'family vote', or 4) part of her corporate welfare plan for financial advisors.

Pnder, pander, pander. We'd have to set up a huge bureaucracy to even attempt to insure these funds are used properly.

Hillary said college, house down payment (as 10% is typical, when's the last time you saw a $50,000 house?), or whatever.

What we really need is to give those parents of limited means a hand up and not a hand out. A hand up includes school choice, vouchers for any accredited school (the Constitution says freedom OF not freedom from religion), and yes, a national health plan that includes preventative care and counseling for harmful behavior.

Sorry folks, Hillary once again has lost met!

Good 2nd point kspec.

I'm assuming you aren't a current college student or not the parent of one. Most scholarships have the same fear you expressed about using the money for personal enjoyment. This is why the vast majority go STRAIGHT to the college- we, the students, never see the money- just the satisfaction of not having a tuition bill to pay. I assume this is how this baby bond thing will work if she decides to implement it.

Did anyone actually think about doing the math on this? $5,000 at an average APY of 8% over 18 years is just under $20,000. It's a start, but certainly not enough to pay for college.

Also, if they are going to mandate what that money could be used for, wouldn't it be feasible that a kid turns 18 and spends it all on marijuana instead of college?