Free college tuition? Read the fine print
According to the New York Times, the Oregon Legislature has approved a bold remedy for student debt.
In a "pay it forward" scenario similar to Australia's, students would attend public universities tuition free and loan free -- but would sign a binding contract to have a certain percentage of their post-graduation paychecks taken by the state for the next 24 years. The money would go into a fund to pay for future students.
The legislators unanimously approved creation of a pilot program that will be scrutinized by and voted upon by the legislature in 2015. I truly hope the bugs can be worked out of this "thinking outside the box" approach, although I must admit that unanimous votes worry me. What other blindingly obvious matters have they been ignoring? And when you get 100 percent of representatives from both sides of the aisle agreeing on ANYTHING and declaring "It's high time," my brain automatically translates their motives to "It's 5 o'clock somewhere."