posted on Jul, 6 2013 @ 01:06 PM
Cost: 3% of income for 24 years
Oregon's New Tuition Plan
Oregon’s new “Pay it Forward” tuition plan, which would “enable students to attend state schools [in Oregon] with no money down… by
paying 3% of their salaries… into a special fund annually for 24 years,” has been pretty well received among progressives. Laura Clawson at Daily
Kos writes that “such a program would encourage risk-taking and dream-following, with new graduates not starting their working lives saddled with
tens of thousands of dollars in debt.”
Personally I have mixed feelings on this.
It's a step in the right direction, but here is what I see wrong with this.
Let's say that some kid with very little money goes to a community college somewhere, opts for this program (lives at home), graduates and gets a $15
an hour job. Their total Education cost is around 9 to 10 thousand dollars, but will end up paying the state $22,032.
Now let's say they go to a college expecting to stay in school for the long haul, so they opts for this program, but something happens the first
semester and has to drop out. The total tuition cost would only be about 3 to 4 thousand (at a state community college), they end up working a well
paying job somewhere and in turn gets paid pretty well. Now they are subject to pay that 3 percent for 24 years even though they didn't get a chance
to utilize the program. Basically they are now paying the tuition fees of others who (through better circumstances) go to a 4 year school, takes
classes that are very expensive. Now let's say that person decides not to work, they contribute nothing, while the one who had to drop out because of
certain circumstances is stuck paying the bill.
Another question is whether this transfers to other schools. If you start out at a community college and transfer to a state university, will they
now have to pay 6% instead of 3%? What if someone Changes majors and instead of 4 years they go 6.
How about Room and Board?
There are a lot of questions that need to be answered here.
I think it is a good start, but should be fined tuned a bit more.
edit on 6-7-2013 by tw0330 because: (no reason given)