Oregon’s legislature is moving ahead with a plan to let students attend college with no money down.
Oregon’s legislature is moving ahead with a plan to let students attend college with no money down.
In return, under one proposal, the students would agree to pay into a special fund 3% of their salaries annually for 24 years.
The plan, called “Pay it Forward, Pay it Back,” would create a fund that students would draw from and eventually pay into—potentially bypassing traditional education lenders and the interest rates they charge. The state would likely borrow for the fund’s seed money, which could exceed $9 billion, but the program’s designers intend it to become self-sustaining.
Read more at The Wall Street Journal.
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