Tuesday, July 9, 2013

Oregon Legislature Unanimously Passes Tuition Free Higher Education

Hoping to alleviate the burden of student loan debt, Oregon has passed a plan to provide tuition-free education at state universities. Advocates of the plan describe it as a “pay it forward” model. Students will attend state universities free of charge then pay three percent of their paycheck for 24 years to fund the program for future students. The bill passed the Oregon legislature unanimously the same day that the interest rate on federally subsidized Stafford Loans doubled from 3.4 percent to 6.8 percent. Read more »