One more step towards investment in people….
Originally posted on Bookbyte Blog:
Back in the summer, the Oregon State Legislature agreed to a plan that would allow students to attend public universities and community colleges for free. In return, the student agrees to pay a small percent of his or her income after graduation.
It’s more or less an interest-free loan. After all, from the government’s perspective, the biggest problem with student loans is that they cripple graduating students with debt right as they become fully functional members of the economy. While the terms of individual loans vary, they also all work more or less on the principle that getting a degree means you’ll soon be making money. Recent grads know that’s not always the case.
The consequences of these painful interest rates are far-reaching. The higher interest rates get, the longer it takes graduates to move out of their parents’ house, to buy cars, and to buy homes instead of rent them…
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