Courtesy LA Times
SALEM — The Oregon Legislature unanimously passed a bill Monday that will help provide higher education for free at state universities.
According to Addictinginfo.org, the legislation — called a Pay it Forward model– would allow students to attend state universities free off cost, but upon graduation, students would pay 3 percent of their paycheck back for 24 years in order to help fund the program for future students. A pilot project would begin in 2015.
Oregon Gov. John Kitzhaber is expected to sign the legislation into law soon.
Legislators said the plan would enable students to enter college without the fear of being buried in debt. Students in Oregon graduate with an average of 24,616 dollars in debt, Addicting Info reported. Officials are unsure how the state will pay to start the program, which is expected to cost about $9 billion initially.
Oregon will be the first state to implement the Pay it Forward program.
Jazzy
I don't think that's a fair policy. 24 years is a long time to pay back a debt and depending how much they make they could be paying back far more than they would have just paying the tuition. I think it's hard enough with all the taxes taken out and work is not easy to come by. I think the 3% should only be taken to pay off the tuition and up to a certain amount and then stop.
steph
I think this is a great idea. If the person graduating earns 50,000 a year and pays 3% for 24 years they would pay back about 36,000. This is more than the average debt but not more than the amount tuition room and board would cost without all the grants scholarships etc. Hope it works and other states start to see the benefit of better educated constituents.
tuition
3% for 24 years is perhaps, too much. But think of it as doing something to pay back to the society, it sounds okay.
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