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 "Free" college tuition proposal in Michigan 
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RIP Killer
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Post "Free" college tuition proposal in Michigan
http://www.pbs.org/newshour/rundown/mic ... y-forward/

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Michigan plan promises to cover college tuition, but students must ‘pay it forward’

Higher education doesn’t come cheap, but legislators in Michigan have proposed a creative solution for financing college tuition — make it free. That’s the first step. Second step: require the student to “pay it forward” by contributing a fixed percentage of their post-collegiate income into a fund that would help aid future college students.

The proposed bill would create a pilot program with the goal of removing financial barriers to higher education like crushing student loans and high interest rates, said state Rep. David Knezek, a democrat who helped introduce the legislation in February. The plan would secure $2 million in start-up money and involve 200 low and middle-income students.

Here’s how it works: in exchange for a “free” education, a student would be required to pay a fixed percentage — 2 percent for community college students and 4 percent for public university students — into the fund for five years for every year they attended school under the program. So a student who attends the University of Michigan for four years would pay into the program for 20 years.

“The only thing free about this is it is interest free,” said Knezek. “You go into the program and as soon as you have a job and are above the federal poverty line, you start paying.

Students also must maintain a good GPA and the program caps the number of years a student can participate — three years for a community college student and five years for a university student.

John Burbank, executive director of the Economic Opportunity Institute in Oregon, told the Detroit Free Press that this is a simple mechanism for students to be able to afford college.

“The percentage you’d have to pay is predictable and predetermined. You don’t have to worry about interest rates fluctuating. It’s all locked in.”

But of course there are some disincentives for joining the program. A student who expects to do well in the labor market might not want to risk losing a percentage of his or her income for a fixed period of time.

“As a result, those who expect to earn a lot won’t participate,” Susan Dynarksi, a professor at the University of Michigan, told the newspaper. “If the future starving artists flood into pay it forward and the future engineers shun it, the program will spiral into insolvency.”

Americans have more than $1 trillion in student loan debt. PBS NewsHour’s Making Sense team has reported on the ever-growing student debt issue and what it means for new graduates.

The bill is working its way through the Michigan legislature, but there is no scheduled hearing yet.

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March 20th, 2014, 1:16 pm
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Post Re: "Free" college tuition proposal in Michigan
This makes ARMs look like a good deal. Sickening.


March 20th, 2014, 1:40 pm
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Post Re: "Free" college tuition proposal in Michigan
I've actually got a better idea that i pitched to the Govnah but didn't get a response.

Ford, GM, Chrysler, Stryker, Kelloggs' and more all utilitze college educated people to work in their facilities. So why not corale all the CEO's and ASK for a 1% "tax" (<- for lack of a better word) to be paid, and this money will go into a general education fund. The money will pay for the education of the students, or at least reduce the cost of the education by paying a portion in "scholarship".

Again, I didn't hear back, so go figure....

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March 20th, 2014, 3:59 pm
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Post Re: "Free" college tuition proposal in Michigan
WarEr4Christ wrote:
Again, I didn't hear back, so go figure....


I'm sure the "Govnah" can't respond to all the communications directed towards him and here are just a few reasons companies wouldn't want to do this --- 1) many companies already offer tuition reimbursement for their own employees (my first company paid for my entire MBA), 2) who wants to commit to paying for out of control education costs when they are already struggling with out of control health care costs, 3) companies don't like taxes to begin with, 4) companies already pay taxes that go towards education (in the form of a business tax, property taxes, income tax, and indirectly through sales taxes on their vehicle sales) and 5) companies don't want to pay to educate people who may go to work for someone else (even a competitor), relocate to another state after college etc.

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March 20th, 2014, 4:15 pm
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Post Re: "Free" college tuition proposal in Michigan
Pay for college the way I did. Go into the military and get the college fund.


March 20th, 2014, 7:34 pm
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Post Re: "Free" college tuition proposal in Michigan
Work full time, school part time.....that's how I did it. If one wants to attend school one can. Work hard....good things will happen.


Frok

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March 20th, 2014, 9:05 pm
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Post Re: "Free" college tuition proposal in Michigan
frok wrote:
Work full time, school part time.....that's how I did it. If one wants to attend school one can. Work hard....good things will happen.


Frok


Unfortunately, this is no longer feasible -- tuition is simply too expensive.

When I went to Michigan, I worked full time and did a full course load. I was making about 33k/yr at the time, which isn't bad for unskilled labor, but certainly not enough to afford the tuition on top of standard living expenses (rent in AA is absurd). Nowadays, it's close to $80k for a four year degree.

Which is really the problem of the matter: tuition costs have gotten out of control.


March 21st, 2014, 12:35 am
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