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View Diary: Oregon considers Pay It Forward model to make college affordable (38 comments)

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  •  I hope it works (0+ / 0-)

    the fear I have is that far from encouraging risk-taking and dream-making, Oregon universities will instead subtly steer students away from English and liberal arts majors, instead chasing hot trends of 10 years ago (structured finance, cloud computing, plastics).  Obviously, that dynamic is there now to an extent.  It makes sense to the extent the state universities would have lower borrowing costs than students, but if the jobs don't generate sufficient income, the universities are left with budget shortfalls.  There's also a question of how they calculate the formula - 10% across the board still would put a squeeze on many new graduates, versus a more progressive model of loan repayment.  And how does grad school fit in the mix?  Someone who goes to University of Oregon and then University of Washington Medicine probably owes most of those career earnings to UW.  And what do you do with marital assets in community property states?  It's worth experimenting, but it's not a costless or fail-safe proposition.

    Difficult, difficult, lemon difficult.

    by Loge on Fri Jul 05, 2013 at 07:29:35 AM PDT

    •  I think the opposite will happen (8+ / 0-)

      They'll feel much freer to pursue what they wish, because, since it is a fixed percentage of their income, how big the salary is or is not doesn't matter.

      This idea was thought up a couple of years ago by students at UC Riverside. Remember that years ago, tuition at UC was practically nil and now, though low by national standards, it is quite pricey for middle and lower class families.

      I hope California does this too, and soon!

      What I love is the idea that if state universities do this nationwide, the rich people will be ghettoized in their super expensive universities, while state schools will clearly get the smartest (and most self-reliant) students ...

    •  One good thing about it is... (1+ / 0-)
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      rather than having to begin paying off school loans immediately upon graduating- this will free up a lot of the new earner's income to spend, boosting the economy.  

      Right now so many new graduates and employees have so much of their new income going to repay the loans, they don't have enough earnings to launch off , even out of their parent's home.

      3% of income is doable.

      FORWARD! Obama/Biden 2012

      by Esjaydee on Sat Jul 06, 2013 at 03:55:54 PM PDT

      [ Parent ]

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