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Alaska State Government Debt for Postsecondary Student Loans, Ballot Measure 2 (2016)

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Alaska Ballot Measure 2
Flag of Alaska.png
Election date
November 8, 2016
Topic
State and local government budgets, spending and finance and Education
Status
Defeatedd Defeated
Type
Constitutional amendment		Origin
State legislature
2016 measures
Seal of Alaska.png
November 8
Measure 1 Approveda
Measure 2 Defeatedd
Polls
Voter guides
Campaign finance
Signature costs

The Alaska State Government Debt for Postsecondary Student Loans Amendment, Ballot Measure 2 was on the November 8, 2016, ballot in Alaska as a legislatively referred constitutional amendment. It was defeated.

A "yes" vote supported this proposal to allow state debt to be contracted for postsecondary student loans.
A "no" vote opposed this proposal to allow state debt to be contracted for postsecondary student loans.

Election results

Ballot Measure 2
ResultVotesPercentage
Defeatedd No165,27555.81%
Yes 130,867 44.19%
Election results from Alaska Division of Elections

Overview

The Alaska State Loan Corporation (ASLC) offered educational loans to students who did not otherwise receive state financial support. Adverse market conditions in recent years forced the ASLC to provide less financial aid to students. Measure 2 was designed to allow the Alaskan government to sell bonds to raise revenue to fund ASLC programs.[1] Current Alaskan law allows the state to borrow money for infrastructure projects, housing loans for veterans, natural disasters, and military defense. Measure 2 sought to add to the list postsecondary student loans.

Text of measure

Ballot title

The official ballot title for Measure 2 was as follows:[2]

“

Allow Debt for Postsecondary Student Loans Senate Joint Resolution No. 2[3]

”

Ballot language

Measure 2 appeared on the ballot as follows:[2][4]

“

This amendment to Article IX, section 8 of the Alaska Constitution would expand the State's authority to incur debt by letting the State issue general obligation bonds backed by the state for postsecondary student loans.

Should this constitutional amendment be adopted? [3]

”

Legislative affairs agency summary

The following was the legislative affairs agency summary:[2][4]

“

This measure would change the state constitution. This measure would allow the state to contract for state debt for postsecondary student loans. Current law only allows state debt for capital projects, housing loans for veterans, military defense, and other stated reasons. Current law requires state debt to be approved by law and the voters. This measure would require state debt for postsecondary student loans to be approved by law and the voters. [3]

”

Constitutional changes

See also: Article IX, Alaska Constitution

Ballot Measure 2 was designed to amend Section 8 of Article IX of the Alaska Constitution. The following underlined text would have been added:[5]

Section 8. State Debt. No state debt shall be contracted unless authorized by law for capital improvements, unless authorized by law for postsecondary student loans, or unless authorized by law for housing loans for veterans and ratified by a majority of the qualified voters of the State who vote on the question. The State may, as provided by law and without ratification, contract debt for the purpose of repelling invasion, suppressing insurrection, defending the State in war, meeting natural disasters, or redeeming indebtedness outstanding at the time this constitution becomes effective.[3]

Full text

The full text of Measure 2 can be found here.

Support

Sponsors

Sen. Anna MacKinnon (R-G) was the primary sponsor of Measure 2 in the Alaska State Legislature. The other cosponsors were as follows:[6]

Supporters

  • Juneau Chamber of Commerce[7]
  • University of Alaska[8]

Arguments in favor

Official arguments

The official argument in support of Measure 2 published in the voter guide was as follows:[2]

Ballot Measure No. 2 will provide the opportunity to reduce interest rates for Alaska student loans with no cost to the State or taxpayers.

  • With affordable financing for college and career training, more Alaskans can invest in the

training essential to fill the high-skill, high-wage jobs of Alaska’s economy

  • Ballot Measure No. 2 increases access to education and training, while helping minimize

student debt

  • Ballot Measure No. 2 has no projected costs to the State or taxpayers, and does not

increase the state budget This ballot measure adds education loan funding to other General Obligation debts already allowable under Alaska’s Constitution: capital projects and certain veteran’s housing projects. The resulting debt, and all operating costs, would be paid back as students repay their education loans.

The debt will be issued through the Alaska Student Loan Corporation (ASLC), which makes loans available to students at the lowest interest rates it can based on the bond market. For almost 30 years ASLC has issued and repaid more than $1.1 billion in bond debt. This ballot measure provides ASLC access to lower bond rates through the state’s General Obligation credit rating. Results are: 1) reduced interest rates for Alaska’s student loans; 2) increased options for eligibility criteria, making the loans available to more applicants; and 3) lower-interest student loan refinance programs. Alaska’s students rely on Alaska’s loan programs. They are a critical component of the state’s workforce development pipeline and help build and maintain a healthy state economy. This measure is an opportunity to support Alaska’s future, at no cost to the State.

Individual arguments

“

Voting yes on Ballot Measure 2 is a no-cost option to the state that will save Alaskans their hard-earned money by providing a tool to reduce interest rates for students. [...] Passage of Ballot Measure 2 is simply accessing a financing option available to the ASLC [Alaska Student Loan Corp.] that will reduce the cost of student-loan interest rates. By law, there are safeguards that place limitations on the bonding process and Ballot Measure 2 does not approve any new debt for the state of Alaska. I urge my fellow Alaskans to join me in voting yes on Ballot Measure 2.[3]

”

Opposition

When the Alaska Senate voted to approve the measure on April 13, 2015, Sen. Bert Stedman (R-R) cast the lone "nay" vote. When the Alaska House approved it on April 17, 2016, Rep. Lynn Gattis (R-D) cast the lone "nay" vote.

Arguments against

The Alaska Division of Elections did not receive any official opposition arguments for Measure 2 that could be published in the voter guide.[2]

Background

Measure 2 addressed the topic of financing education. Prior to 2016, measures dealing with this topic on Alaska statewide ballots date back to 1960. Most of these sought public approval for bond issues to fund school construction projects. Most recently, Bonding Proposition C approved the issuance of $236,805,441 in bonds for constructing and maintaining educational and museum facilities.

Media editorials

Support

  • The Ketchikan Daily News editorial board wrote the following in an editorial supporting both Measure 1 and Measure 2:[10]
“

The statewide election will feature two ballot measures. One seeks voter approval for allowing qualified Alaskans to register to vote when applying for an Alaska Permanent Fund dividend. The other amends the Alaska Constitution, expanding the state's authority to incur debt through general obligation bonds for postsecondary student loans. [...] Alaskans benefit with both measures. To pass them requires yes votes.[3]

”

Opposition

Ballotpedia did not find any editorial board endorsements in opposition to Measure 2. If you know of one, please email editor@ballotpedia.org.

Campaign finance

Total campaign contributions:
Support: $0.00
Opposition: $0.00
See also: Campaign finance requirements for Alaska ballot measures

As of February 14, 2017, no ballot question committees filed to support or oppose Measure 2.[11]

Path to the ballot

See also: Laws governing ballot measures in Alaska

Article 13 of the Alaska Constitution specifies that a two-thirds vote of the Alaska State Legislature is required to refer an amendment to the ballot.

On April 13, 2015, the Alaska Senate approved the Senate Joint Resolution (SJR) 2, with 19 senators voting "yea" and one voting "nay." On April 17, 2016, the House approved it, with 37 representatives voting "yea" and one voting "nay."[12]

Senate vote

April 13, 2015

Alaska SJR 2 Senate Vote
ResultVotesPercentage
Approveda Yes 19 95.00%
No15.00%

House vote

April 17, 2016

Alaska SJR 2 House Vote
ResultVotesPercentage
Approveda Yes 37 97.37%
No12.63%

State profile

Demographic data for Alaska
 AlaskaU.S.
Total population:737,709316,515,021
Land area (sq mi):570,6413,531,905
Race and ethnicity**
White:66%73.6%
Black/African American:3.4%12.6%
Asian:5.9%5.1%
Native American:13.8%0.8%
Pacific Islander:1.2%0.2%
Two or more:8.4%3%
Hispanic/Latino:6.5%17.1%
Education
High school graduation rate:92.1%86.7%
College graduation rate:28%29.8%
Income
Median household income:$72,515$53,889
Persons below poverty level:11.3%11.3%
Source: U.S. Census Bureau, "American Community Survey" (5-year estimates 2010-2015)
Click here for more information on the 2020 census and here for more on its impact on the redistricting process in Alaska.
**Note: Percentages for race and ethnicity may add up to more than 100 percent because respondents may report more than one race and the Hispanic/Latino ethnicity may be selected in conjunction with any race. Read more about race and ethnicity in the census here.

Presidential voting pattern

See also: Presidential voting trends in Alaska

Alaska voted Republican in all seven presidential elections between 2000 and 2024.


More Alaska coverage on Ballotpedia

Related measures

Government finance measures on the ballot in 2016
StateMeasures
IllinoisIllinois Transportation Taxes and Fees Lockbox Amendment Approveda
AlabamaAlabama Approval of Budget Isolation Resolution Proposing a Local Law, Amendment 14 Approveda
ArizonaArizona Education Finance Amendment, Proposition 123 Approveda
New JerseyNew Jersey Dedication of All Gas Tax Revenue to Transportation, Public Question 2 (2016) Approveda
GeorgiaGeorgia Additional Penalties for Sex Crimes to Fund Services for Sexually Exploited Children, Amendment 2 Approveda
OregonOregon Public University Diversification of Investments, Measure 95 Approveda
UtahUtah School Funds Modification Amendment Approveda

Recent news

This section links to a Google news search for the term "Alaska + state + debt + student + loans + measure + 2"

Alaska State Debt for Student Loans News Feed

See also

External links

Footnotes

  1. ↑ Alaska State Legislature, "Sponsor Statement - Senate Joint Resolution 2," accessed August 23, 2016
  2. ↑ 2.0 2.1 2.2 2.3 2.4 Official Election Pamphlets – General Election," accessed October 26, 2016
  3. ↑ 3.0 3.1 3.2 3.3 3.4 3.5 Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source. Cite error: Invalid <ref> tag; name "quotedisclaimer" defined multiple times with different content Cite error: Invalid <ref> tag; name "quotedisclaimer" defined multiple times with different content Cite error: Invalid <ref> tag; name "quotedisclaimer" defined multiple times with different content
  4. ↑ 4.0 4.1 Alaska Division of Elections, "Ballot Measure No. 2 - Constitutional Amendment," accessed August 23, 2016
  5. ↑ Alaska State Legislature, "SENATE JOINT RESOLUTION NO. 2," accessed August 23, 2016
  6. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named akleg
  7. ↑ Juneau Chamber of Commerce, "Letter of Support," February 10, 2015
  8. ↑ University of Alaska, "Letter of Support," February 2, 2015
  9. ↑ Alaska Dispatch News, "Ballot Measure 2 will ease debt burden on students," October 31, 2016
  10. ↑ Ketchikan Daily News, "Ballot measures," October 22, 2016
  11. ↑ State of Alaska, "APOC Online Reports," accessed December 12, 2016
  12. ↑ OpenStates.org, "SJR 2," accessed May 4, 2016
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