261A.3 - LEGISLATIVE FINDINGS.
261A.3 LEGISLATIVE FINDINGS.
The general assembly finds as follows:
1. The establishment of the authority is in all respects for the
benefit of the people of the state of Iowa, for the improvement of
their education, health and welfare, and for the promotion of the
economy, which are public purposes.
2. The authority will be performing an essential governmental
function in the exercise of the powers and duties conferred upon it
by this chapter.
3. There exists a serious problem in this state regarding the
ability of students to obtain financing for the cost of education
beyond the high school level.
4. Escalating costs of securing such an education have
contributed to the difficulties faced by students in attempting to
finance an education.
5. Without public action as contemplated by this chapter, many
students will be forced to postpone or abandon plans for obtaining
additional education.
6. It is in the interests and welfare of the citizens of the
state to provide a means for assisting students to continue their
education.
7. Without public action as contemplated by this chapter, the
inability to obtain educational financing will result in declining
enrollments at institutions of higher education.
8. It is necessary to create a higher education loan authority to
encourage the investment of private capital in the provision of funds
for the financing of student loans.
9. All of the purposes stated in this section are public purposes
and uses for which public moneys may be borrowed, expended, advanced,
loaned, or granted. Section History: Early Form
[82 Acts, ch 1031, § 3]
Referred to in § 261A.24