Skip to comments.
Oregon Lawmakers Pioneer Tuition-Free 'Pay it Forward, Pay it Back' College Plan
ABC News ^
| 07/05/2013
| SUSANNA KIM
Posted on 07/05/2013 8:02:02 AM PDT by Kid Shelleen
click here to read article
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41 next last
To: Kid Shelleen
“This is what thinking outside of the box looks like.”
No...this is what paying off the plantation owner professors looks like. Can’t have the Massahs going without their new BMWs.
21
posted on
07/05/2013 8:32:15 AM PDT
by
blueunicorn6
("A crack shot and a good dancer")
To: Kid Shelleen
Ummm.....who pays for the university costs until they start paying it back? Oh......the taxpayers. What a great idea.
22
posted on
07/05/2013 8:33:56 AM PDT
by
blueunicorn6
("A crack shot and a good dancer")
To: blueunicorn6
Exactly. I paid off my debt, and I don’t owe anything to anybody. With this plan I’d be their slave for life.
23
posted on
07/05/2013 8:34:15 AM PDT
by
JCBreckenridge
("we are pilgrims in an unholy land")
To: Kid Shelleen
Sounds like a plan they would have used in the old Soviet Union.
24
posted on
07/05/2013 8:37:41 AM PDT
by
FlingWingFlyer
(If America is a nation of immigrants, where's my free stuff?)
To: IllumiNaughtyByNature
Excellent observations. Suppose someone moves out-of-state or out of the country. How does the state of Oregon enforce this law?
To: JCBreckenridge
I am sure that in a few years when the “artists”, social workers, and so forth complain about the tremendous burden that has been placed on them, the law will be changed and limited to say the first 10 or 15 years after you graduate
and then the debt is forgiven.
To: al_c
According to the University of Oregon site, you need 220 credits for a BA or BS degree. Tuition is currently $9,300/yr (resident) and $28,000/yr (non-resident). Multiply by 4, and you get about $37,000 and $112,000. (Assuming you graduate in 4 years, which many students do not - the tuition is based in 15 credits/quarter, and - unless you attend summer school - it would take five years to get the required credits.) So for five years, the figures would be $46,000 and $140,000.
If we take a middle figure of $40,000 and $120,000 and average it over 20 years, we come up with $2,000/yr and $6,000/yr. Dividing by 12, we get a monthly payment - assuming no interest - of $167.00 and $500.00. Doesn't sound free to me.
To: Slyfox
"Isnt that what students who get student loans are doing right now?"
For all practical purposes, this seems like a student loan program in disguise. Then, in a few years, when there are massive defaults on the stealth loans, the politicians will buy votes by forgiving the debt.
To: Maine Mariner
College administrators are boomers. This is a way to indenture young people forever while ensuring your pension gets paid.
It won’t change at least while Boomers are in power.
29
posted on
07/05/2013 8:51:56 AM PDT
by
JCBreckenridge
("we are pilgrims in an unholy land")
To: Kid Shelleen
Good news for useless professors teaching ridiculous courses:
Good for bloated administrations too.
30
posted on
07/05/2013 9:17:38 AM PDT
by
RightGeek
(FUBO and the donkey you rode in on)
To: Kid Shelleen
When I was in grade school, we were taught about the horrors of indentured servitude. This is different... how?
To: Kid Shelleen
The Oregon student moves to another state after graduation. The state of Oregon has no jurisdiction to impose a percentage tax on income earned outside of Oregon.
32
posted on
07/05/2013 9:50:59 AM PDT
by
Myrddin
To: Slyfox
"Isnt that what students who get student loans are doing right now?"
I am not sure but in my day you could pay off the loan early and you knew how much you had to pay off.. With this "progressive" idea the government has their hooks in you for 20 years AND using a payment based on percentage is a backdoor way to adjust for inflation. Loan sharks got nothing on these guys.
33
posted on
07/05/2013 10:13:55 AM PDT
by
Kid Shelleen
(Beat your plowshares into swords. Let the weak say I am strong)
To: Myrddin
"The Oregon student moves to another state after graduation. The state of Oregon has no jurisdiction to impose a percentage tax on income earned outside of Oregon."
It's not a tax on income, it's - no matter how they try to spin it - the repayment of a de-facto loan - on a sliding basis, based on income.
There IS the issue of enforcement, however, because it could very well be difficult to track the income of these former students, if they live out-of-state. (I think Oregon has a state income tax and no sales tax, so it could monitor in-state income.) It seems like the state of Oregon would need access to the out-of-state students' IRS records in order to verify their income, and I don't know if they could get that information. Otherwise, you just have an honor system - in other words, no system.
To: Kid Shelleen
35
posted on
07/05/2013 10:21:55 AM PDT
by
Kozak
(The Republic is Dead. We now live in a Judicial Tyranny.)
To: Kid Shelleen
When the government sets itself up as God, it should be entitled to a tithe, right?
36
posted on
07/05/2013 10:35:28 AM PDT
by
CommerceComet
(Obama vs. Romney - clear evidence that our nation has been judged by God and found wanting.)
To: Kid Shelleen
both for the duration of 20 years after graduation.
To: Kid Shelleen
a “student loan” by an another name
and how will the state fund a kids schooling before they graduate and start to pay it back - raise taxes and borrow (’cause any ‘revenue’ they assign to this will not remain restricted to this and will not achieve predicted levels for it) - and then how many students will “default” - move out of state and not “pay it back”
a disaster waiting to happen
limited merit scholarships for economicly challenged but meritorious students is a preferrable objective over “pay it back later”
they’re mad
“Essentially what it does is allows you not to carry a debt load,” Dudley said. “It’s not a debt that you graduate with — your debt-to-credit ratio is not mucked up and you can participate in the economy, which is a novel thought.”
when applying for a loan, that contract and the % of income the person is required (one hopes, required by Oregon law) to pay, WILL BE RATED as a debt obligation by credit rating agencies - whether or not the promotors call it a loan
and if the lawmakers do not permit the students the right to go get a real loan and pay off the “tuition contract” at once, getting the 30 year obligation moved down to a five or ten year obligation, then it should be rejected, because for many students removing that burden from their income sooner rather than later could be a good move, even if interest is added
38
posted on
07/05/2013 1:05:23 PM PDT
by
Wuli
(qu)
To: Kid Shelleen
I am not sure but in my day you could pay off the loan early and you knew how much you had to pay off.. I did two tours of duty in college. The first I paid $42.00 per credit hour for a state college. I had that sucker paid off the moment I signed up for my classes. Granted we ate beans but we had no debt.
The second time, in 2004, I decided to go to a private college and even though I got a half-tutition I ended up owing about $48,000. I am aggressively working to pay it off.
Loan sharks is right. We have to put up with any "adjustments" because they got us by the nads.
39
posted on
07/05/2013 1:14:28 PM PDT
by
Slyfox
(Without the Right to Life, all other rights are meaningless.)
To: staytrue
Since the repayment for free tuition is a percentage of income, this program encourages low paying careers over higher paying ones.
only partially correct
what it really does is encourage the successful to move.
hard to believe even a rat could be stupid enough to implement
something this thoughtless.
40
posted on
07/05/2013 4:00:13 PM PDT
by
genghis
Navigation: use the links below to view more comments.
first previous 1-20, 21-40, 41 next last
Disclaimer:
Opinions posted on Free Republic are those of the individual
posters and do not necessarily represent the opinion of Free Republic or its
management. All materials posted herein are protected by copyright law and the
exemption for fair use of copyrighted works.
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson