Click to embiggen
The land of higher education teeters on the brink, as a winter of student debt threatens to sweep down upon it from a white wall of loans. Yet hope endures, for a “Stark” contrast has emerged: Pay It Forward.
Today, 7 in 10 students are graduating with an average $29,400 in debt, making them less likely to own homes, buy cars, graduate with a STEM degree, and spur economic growth.
EOI’s Pay It Forward plan offers no upfront tuition while attending college – instead, students contribute a small percentage of post-college income, so they graduate with a degree and less debt.
It would work on top of other financial aid rewards and scholarships to cover the full cost of tuition. Students contribute 1% of their annual income for each year of college attendance, for 20 years. That’s just $89 a month for an recent graduate with a Bachelor’s degree, or $23 a month for someone with an Associate degree. And the contributions go to a state trust fund to pay for the next cohort of students.
More To Read
November 1, 2024
Accessible, affordable health care must be protected
Washington’s elected leaders can further expand essential health care
September 24, 2024
Oregon and Washington: Different Tax Codes and Very Different Ballot Fights about Taxes this November
Structural differences in Oregon and Washington’s tax codes create the backdrop for very different conversations about taxes and fairness this fall
September 10, 2024
Big Corporations Merge. Patients Pay The Bill
An old story with predictable results.