State of Oregon Considering College Payment Plan That Won't Bury Students in Debt

State of Oregon Considering College Payment Plan That Won't Bury Students in Debt

The state of Oregon seems have to come up with a reasonable way for students to pay for college that won't leave them drowning in debt following graduation. According to the Wall Street Journal, the state is considering a plan that would permit students to attend state schools at the expense of no money up front, then pay 3 percent of their salary for the next 24 years.

Not only would this mean more students having a fair opportunity to attend college, it means graduates won't have to find jobs—both high and low-paying—to pay off debts. The state says the proposed plan would cost $9 billion over 24 years until a reasonable number of students graduated and replenished the fund with money, allowing the system to sustain itself.

It's estimated that it would take students 20 years to pay the state back, and that the last four years of payments would yield nothing but profit for the fund. It certainly sounds better than working a job you loathe to pay off loans you also loathe.

[via Gawker and Wall Street Journal]

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Tags: oregon, college, student-loans
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