Oregon Plans for Free College Tuition in a Pay It Forward Plan

Oregon Plans for Free College Tuition in a Pay It Forward Plan

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Antioch College OhioIn Oregon, where the cost of tuition has soared as public funding for higher education declined, the state legislature this week approved an idea called Pay It Forward.

The program would call for students to attend public universities tuition- and loan-free. In exchange, students would have three percent deducted from their post-graduation paychecks for about a quarter-century. The money would go into a fund to pay for future students.

If a person earns an average of $50K over 24 years, the sum total paid back would be $36,000 over a quarter century. It averages out to be $125/month, fairly affordable compared to traditional tuition.

(READ the story from USA Today)

Thanks to Autumn Marie C. for sending the link!

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