The microcredit approach has been unbelievably successful, giving poor people the opportunity to buy needles for crocheting and bicycles for delivery services in various parts of the world. This approach allows a student who has no collateral of any type--all they have is promise, they have the promise of their capability to do better in life if they go to college--it allows them to get a loan to advance their interests.
Discussing the benefits of microcredit and its application to student loans.
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More from Byron Dorgan
I just want to say that I am concerned about the court's decision in Carcieri and the impact it may have on those tribes that were recognized after 1934.
Senator Dorgan once said it takes four agencies and 49 steps. I think with the Mandan, Hidatsa and Arikara Nation, we say it is seven agencies and 100 steps.
You know, I do not know that I can offer you much advice except to say we have painted ourselves into a fiscal policy corner.
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