Skip to main content

This is going to be a short one but State Senator and congressional candidate Daylin Leach (D. PA-13) is going to be promoting this heavily:

http://www.phillyburbs.com/...

State Sen. Daylin Leach, D-17, wants to give students an attractive offer to attend college in state: Pay no tuition up front, and don't worry about accumulating any interest.

The Montgomery County lawmaker proposed Wednesday that Pennsylvania become among the first in the nation to advance legislation that would create a new type of public financing to fund college educations.

Under Leach's plan, qualifying students would enter into a contract with the commonwealth so they could pull from a state pool to pay tuition fees. Once employed, the former students would then repay the amount borrowed, interest free, by contributing about 4 percent of their monthly paychecks directly to the state.

"It completely changes the paradigm of paying for higher education," said Leach, D-17, a member of the Senate Education Committee. "We think this is a much better system than the current system, and we think it opens up the discussion about how do we address the student loan problem, the debt crisis and the inability of some students to go to college." - Philly Burbs, 8/7/13

Known as the  "Pay it Forward, Pay it Back" bill, Leach's legislation modeled partly after a new pilot program by the same name under consideration in Oregon.  Leach's bill is a little different though.  Leach's plan would require students to repay only the amount they've borrowed:
The original "pay it forward" concept strips away any language dealing with loans or repayments, and instead pitches itself as a way for students to pay nothing up front in exchange for helping fund the educations of future students. Students agree to pay a percentage of their post-college income for a fixed period of time, such as 3 percent of their paychecks for 24 years, no matter how much they make.

Roughly 70 percent of Pennsylvania's four-year college students graduate in debt, with the average debt burden approaching $30,000 per student, according to 2011 data collected by the Institute for College Access & Success. Some federal loan programs offer income-based repayment plans, but interest starts accruing the day the money gets disbursed. - Philly Burbs, 8/7/13

I'll be looking forward to hearing more about this.  In the mean time, if you to donate or get involved with Leach's campaign, you can do so here:
http://votedaylin.com/

Originally posted to pdc on Wed Aug 07, 2013 at 09:30 PM PDT.

Also republished by Knowledge Democrats, Philly Kos, Youth Kos 2.0, DKos Pennsylvania, and The Democratic Wing of the Democratic Party.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site