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re: Oregon thinking outside of box -- Free Tuition
Posted on 11/19/14 at 3:31 pm to LSUGUMBO
Posted on 11/19/14 at 3:31 pm to LSUGUMBO
Alright. Point still stands. The state covering tuition helps, but will 3% of income over 20 years be more or less than the tuition cost? Is this actually saving money on tuition in the long run?
Does it hurt the student in the long run to have this 20 year responsibility plus an extra loan with high interests rates to cover room and board and books?
Does it hurt the student in the long run to have this 20 year responsibility plus an extra loan with high interests rates to cover room and board and books?
2
Posted on 11/19/14 at 4:18 pm to StringedInstruments
The schools are banking on the 3% for 20 years equaling more than typical tuition fees, which is a good bet if the only people taking advantage of this are graduating with worthwhile degrees, but I'm not sure that would be the case.
I've only been out of school for 4.5 years, but I extrapolated what I would pay back (3%) for my 4.5 years worked, plus another 15.5 years if my salary increased by 4% yearly (seemed like an appropriate number) and came out to ~$63,000. Which is close to 3-4 times what I paid in tuition.
I've only been out of school for 4.5 years, but I extrapolated what I would pay back (3%) for my 4.5 years worked, plus another 15.5 years if my salary increased by 4% yearly (seemed like an appropriate number) and came out to ~$63,000. Which is close to 3-4 times what I paid in tuition.
Posted on 11/19/14 at 10:07 pm to StringedInstruments
It is more than the cost of tuition if you have a decent career but that is the point. The student would decide to partake in this form of funding for a college education that would not require money upfront. For that opportunity, you pay it back/forward for the next generation of students.
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