On Thursday, Oct. 2, The Lantern ran an article titled "Voters likely to decide payday issue" regarding the likely vote on payday lending in Ohio.
The Lantern believes that this is an issue with serious implications for the student body, as some students depend on payday loans as a source of short-term funds when money is tight. Although the current law limits a potentially helpful practice, we believe the actions of predatory lenders make the law necessary.
The Lantern approves the passage of House Bill 545. We believe that although the government should not unnecessarily limit businesses, it has a responsibility to protect its constituents from harmful lending practices that take advantage of vulnerable populations. The laws in place only limit short-term loans from getting wildly out of hand and serves to cut an otherwise unending cycle of debt.
In today's issue, The Lantern ran a story on the possibility of Ohio State switching to semesters. We are one of four Ohio universities still on the quarter system. Many complain about the high costs and disruption such a change would cause.
The Lantern feels that although the risks and costs are high, the switch could have a positive effect on students.
On the quarter system, we do not get the advantage of beginning our job-hunt in May. Students from other schools have the upper hand in getting jobs because they can apply earlier.
Being on the same schedule as other schools would allow us to share study abroad programs with other schools, as well as make the transfer process easier.
Despite the high cost involved with switching to semesters in the short-term, the change might ultimately benefit students.
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