Reason No. 4,398 to immediately drop everything and move to California: Democrats in the state are making bold moves toward a potentially debt-free future for college graduates. Lawmakers proposed "the most generous college aid plan in the nation" Monday, the Los Angeles Timesreported. The plan aims to supplement the state's aid programs while doing away with the need for student loans.
"California is taking the boldest step in the nation for making college debt-free," Assembly Speaker Anthony Rendon told reporters during a Capitol news conference Monday. Those affected by the plan would include nearly 400,000 lower and middle-income students in the University of California and California State University systems. The plan would also increase grants to community college students and hit them with a total tuition of $0.00 for the first year.
The problem for many students, Assemblyman Kevin McCarty said, is that grants are often not enough to cover additional expenses including pricey textbooks and housing. "The cost of living, the books, the transportation — that's [what] we really need to tackle," McCarty said Monday, according to the Times. The new program, if put into motion, would cost "around" $1.6 billion per year with costs expected to drop following a minimum wage increase.
Under the program, benefiting students would be required to work 15 hours per week to help with expenses. Additionally, the Sacramento Beenoted, those with an annual income over $60,000 "would be expected" to make additional contributions. "With these elements combined, this again would replace that necessity to go and get an outside student loan," McCarty explained.
Meanwhile, back in New York, Gov. Andrew Cuomo proposed his plan for tuition-free state colleges back in January. To be eligible under Cuomo's plan, New York residents must make less than $125,000 per year. "New York is making a major investment in our greatest asset—our people—and supporting the dreams and ambitions of those who want a better life and are willing to work hard for it," Cuomo said in a news release.
