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Paying for college


Posted: Feb 6, 2016

First, it would be means-tested.  No assistance would be offered to families who don't need it, and for those eligible for assistance, the amount would be based on the level of need.   Families at the poverty level would receive the greatest assistance and the amount would decrease as the family income level increases until hitting the "wealthy"cutoff of no assistance.

Second, assistance would be based on the residual need AFTER taking into account scholarships or grants, if any, that the student receives from other sources.  There is no need to dismantle the private or philanthropic sources of funding that presently exist because these are not loans and do not saddle the student with debt.

Third, beyond the base level of aid, there would be an extra incentive (adjustment) of assistance to students who are studying in fields where the nation has a critical need for graduates - primarily the sciences, technology, engineering, math, healthcare, etc.

Fourth, the funds would be paid directly to the schools for tuition, lab fees, books, school supplies, campus housing and campus meals.  Campus-wide internet would be free.  Other expenses would be the responsibility of the student/family at all levels of assistance, unless an absolutely insurmountable hardship exists.

Fifth, students would be incentivized to complete their first 2 years of general education at a junior college if possible.

Sixth, students receiving assistance would be expected to pay back 50% of the total amount received, interest-free, based on some non-punitive percentage of their income.  However, I would also establish a variety of ways that even this 50% obligation, or a portion of it, could be forgiven.  For instance, 10% forgiven for each year of military service, or for service in education, law enforcement or other social services. 

Seventh, I would also incentivize employers to offer repayment as an employee benefit that would be prorated for each year of employment.

Eighth, I would incentivize parents of young children to use educational savings accounts.

People are running around yammering about "free college education" when there is neither any reason nor do we have the money to make college education FREE.  If we make college education EASILY AFFORDABLE, if we continue to use the private sources of funds such as scholarships that are available, if we encourage students to major in critical areas of need, if we forgive 50% of the assistance received immediately upon graduation and then provide ways that the remainder can either be easily repaid based on ability, or forgiven in exchange for good that the nation receives from certain services, and if we incentivize employers to repay the student's obligation - that is a lot, and it is ENOUGH, because even this will cost plenty.

 

 

 

 

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This must be Hillary's plan. Bernie's is much less complicated. nm - VTMT

[ In Reply To ..]
.

Hillary has a plan? - Why not implement years ago?

[ In Reply To ..]
I mean she has been in office and married to the president for years? Why wait till now? Hillary has been part of the establishment since Bill was in office. Couldn't she use her influence to make things happen before 2016?

True. I have never heard much about education from her. sm - VTMT

[ In Reply To ..]
Bernie's plan is pretty simple, four more years of tuition-free education for all qualified students at PUBLIC colleges and universities, completely paid for by a tiny tax on speculative Wall Street transactions. How anyone could construe that as being a bad thing is beyond me.
One difference that comes to mind... - most college students do not live at home
[ In Reply To ..]
College years or the first few years out of high school are supposed to be the "launching years" - learn to live your life making your own decisions, a little help from mom and dad - or loans or whatever - but now you are responsible for your own decisions. I agree that something should be done about higher education, but get rid of the stupid classes - if it doesn't directly relate to and assist in the chosen career - then it has no business on a campus and the college paying someone to teach it - "The study of maple syrup" "how to watch tv" "Klingon language" you get the picture. this is what is driving up the cost of college - go to any vocational school where the students actually learn something - you won't find this - instead of extending our young people's "exploration period" which used to be called getting out on your own (think health insurance paid up to age 26 - now they have an excuse not to get a job or complete their education because mom and dad are paying for their insurance) - lets help them become independent - this is just one argument against free college - don't get me wrong - I am in favor of alot of things that can be done. Reimbursement of tuition if the student gets A's or as alot of states do, a certain amount deducted from the loan for each year worked in the state (engineers, teachers, nurses, etc), a cap on the price of textbooks (which most kids don't need anymore anyway), those sorts of things - but handing it to them free? Not so much in favor of that. The kids that want to more about maple syrup could get together and have a discussion group.
Wow, I don't know where you came up with that! sm - VTMT
[ In Reply To ..]
The truth is, in terms of living arrangements, 30 percent of all beginning students live on campus, 27 percent live off campus, and 43 percent live with
their parents or other relatives. Most two-year and less-than-two-year
institutions do not offer on-campus student housing. At four-year
institutions, almost two-thirds of beginning students live on campus. What this has to do with "free" college I have no idea. Tuition will be free. Students will still have to pay for books, room and board, etc.
Thank you for your statistics.... - my point being....
[ In Reply To ..]
that college years are a good time for kids to "launch" and if we make it the same as high school, everything is paid for and there is no skin in the game for them, for many, not all, it will delay the "launch" by 2, 4, 6 years....

We live in a rural area and living at home and going to college is not an option - for us, the closest college is 75 miles away and some, within the state, are 250 miles away - if that is where the degree is that a student is looking for, living at home is not an option.

Again, I reiterate that paying for college retroactively is a much better option - get good grades, attend class and take a job - even if it isn't in your field, but "launch" get out and start working and payback of your loans happens while you are working. Don't sit at home in mom and dad's basement, go to class when you feel like it, and then if the 6 figure job offer doesn't come in, sit and wait for it and cry because you have loans to pay back - for that class on maple syrup. And again, tuition reimbursement would be for classes directly related to the major. No maple syrup for chemical engineers....sorry - I just think that is so creepy - maple syrup????

This is "complicated"for you? Means test, encourage critial needs - and incentivize.

[ In Reply To ..]
I bet your blender gives you a lot of trouble.

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