A new plan–which will let students pay back loans at rates determined by how much income they make after college–began as an ambitious school project.
On the day federal legislators let student loan interest rates double, Oregon’s legislators passed a bill to make student loans obsolete.
The proposal is really only a tiny, tentative first step in that direction–calling for a committee to decide to create a pilot project–but it’s nonetheless a conjunction of many inspiring rarities: A fresh idea, passed swiftly and unanimously, bringing real progress to increasingly crushing student debt. And it all started, fittingly enough, in a classroom full of debt-ridden college seniors at Portland State University.
The class, called Student Debt: Economics, Policy and Advocacy, took as its starting point a novel policy proposal to scrap up-front tuition and replace it with a flat tax on students’ future earnings. Instead of struggling to escape defaulting on skyrocketing student loans, low-earning graduates would pay a correspondingly low amount, while high-earners would help keep the program solvent.
The class’s task was to turn this concept into something that looked more like policy. “The idea was very unformed, just a lot of numbers,” says Barbara Dudley, a long-time political activist and co-teacher of the PSU class. “We had to start thinking about opting out, opting in, what it would it look like, how many years, would the higher income students be pissed off …”
But while the students sweated the practical details, they weren’t expecting to put them into practice immediately. “We weren’t thinking that they were going to turn anything into legislation,” says Dudley. “You know, maybe they would talk to some legislators.”
Talking to one legislator led to talking to others. Their “final exam” was a panel discussion, where students walked four legislators through the student debt problem and their solution: that each year of full-time schooling corresponds to an additional .75% of a students’ future income, to be garnered for 24 years.
The Latest Bing News on:
Tuition-Free College
- Top Education Department official steps down amid crisis over college financial aidon April 26, 2024 at 1:48 pm
Richard Cordray, the official in charge of the Federal Student Aid office, which oversees the FAFSA, will conclude his tenure at the end of June.
- To spread word of free tuition and boost low-income enrollment, a college goes on a Western Slope high school touron April 26, 2024 at 12:27 pm
To spread word of free tuition for some students and boost low-income enrollment, a college is going on a Western Slope high school tour.
- Top Education Department official stepping down as college financial aid fiasco continueson April 26, 2024 at 12:09 pm
RIchard Cordray, who heads the Federal Student Aid office, will step down in June in the midst of a financial aid crisis that's leaving some students without necessary aid ...
- Austin Community College Is Trialing Free Tuition. Will Others Follow?on April 25, 2024 at 8:44 am
Promise programs are one approach to free college that have proliferated over the past decade. ACC's pilot will be a generous first dollar program.
- TWU extends free tuition to STEM-focused charter school studentson April 24, 2024 at 5:14 pm
Texas Woman’s University announced this week that it has partnered with Harmony Public Schools to offer high schoolers a shot at enrolling at TWU tuition-free.
- Free med school tuition won’t solve the shortage of primary care physicianson April 22, 2024 at 1:31 am
One goal of freeing med students from the burden of student debt is to enable them to go into primary care or work in underserved areas. That isn't happening.
- Biden makes another push for tuition-free community college. Here's why it may work this timeon April 21, 2024 at 5:30 am
President Biden hasn't not given up on the idea of free community college nationwide. Already, 35 states have some type of program in place.
- Biden makes another push for tuition-free community college. Here's why it may work this timeon April 20, 2024 at 5:00 pm
Unlike student loan forgiveness, free college is a better way to combat the college affordability crisis, some experts say. Even though Biden has yet to make college tuition-free at the federal ...
- Private colleges say ‘free tuition’ plans at risk if state grant program cuton April 18, 2024 at 8:48 am
Tuition-free guarantees from Michigan’s private colleges and universities are at risk if the governor’s proposal to eliminate the Michigan Tuition Grant garners support from legislators. Five private ...
The Latest Google Headlines on:
Tuition-Free College
[google_news title=”” keyword=”Tuition-Free College” num_posts=”10″ blurb_length=”0″ show_thumb=”left”]
The Latest Bing News on:
Student debt
- Ease student debt, don’t erase iton April 27, 2024 at 2:08 am
I am one of many in this country with student loan debt, and I am able to make payments that are calculated at 10% of my net income, which is manageable
- The biggest winners of Biden’s student debt ‘cancellation’on April 26, 2024 at 9:55 pm
President Joe Biden introduced new provisions to his student debt relief plan, and the main beneficiaries are high-income earners, an analysis found.
- Biden’s Student Loan Chief to Step Down in June Amid FAFSA Chaoson April 26, 2024 at 12:39 pm
Richard Cordray is resigning amid the rollout of a federal student aid application process that was delayed, glitch-ridden and sometimes prevented students from submitting applications at all.
- Biden’s student loan chief to depart as mass relief plan loomson April 26, 2024 at 11:30 am
He'll be leaving as the department faces pressure to deliver on Biden’s aspirations to cancel debt for tens of millions of Americans before the election.
- Richard Cordray to step down from job overseeing $1.6 trillion in federal student loanson April 26, 2024 at 10:44 am
Richard Corday is stepping down as the chief operating officer of the Office of Federal Student Aid, the government entity that oversees the nation’s $1.6 trillion student-loan portfolio.
- Federal Student Aid head will step down. His office has been roiled by FAFSA problemson April 26, 2024 at 9:00 am
The head of the Federal Student Aid office, which has faced criticism for the botched rollout of this year’s college financial aid form, will be stepping down.
- What College Majors can Afford to Retire?on April 26, 2024 at 4:00 am
With $20,000 of student-loan debt, only construction management, data science analytics and supply chain management (starting salaries greater than $51,700) can still retire comfortably. By this model provided, no business majors can reach $40,000 in student-loan debt and still guarantee a 50% chance to outlive one’s savings.
- 25 States That Have Trouble with Student Loan Paymentson April 25, 2024 at 1:32 pm
In this article, we will be navigating through the 25 states that have trouble with student loan payments. If you wish to skip our detailed analysis, you can move directly to the 5 States That Have Trouble with Student Loan Payments.
The Latest Google Headlines on:
Student debt
[google_news title=”” keyword=”student debt” num_posts=”10″ blurb_length=”0″ show_thumb=”left”]