President Bill Clinton announced a proposal Monday at the Summit on America's Future in Philadelphia that would give student volunteers a break on their student-loan interest, a program that is similar to the CAUSE program in place at
Union since 1991.
The CAUSE program forgives student loans at a rate of 20 percent for each year that a student pursues public service after graduation – in five years, the total CAUSE award is forgiven.
Union has committed forgivable loans totaling $386,000 since the program
began. Funding has been through a number of private donations. Current average annual
CAUSE awards are between $3,500 and $4,000 – or between $14,000 and $16,000 over four
years. There are 25 students currently enrolled in the CAUSE program; 11 have already
graduated as CAUSE scholars.
Present to hear President Clinton's remarks on Monday was John Vero
'97, an Albany native and a member of the Albany delegation to the volunteer summit.
“I have been very fortunate to have attended great schools, and to
have had various opportunities to witness how community service can benefit Albany,”
Vero said in a press conference before the delegation left. “However, most of our
young citizens do not realize what a positive impact they could have.”
Vero, a political science major who is active in a range of campus
activities, plans next year to attend Albany Law School and continue his service as a
community volunteer mediator.