Oregon's Innovative Education Bill

Oregon Dems Pass Innovative Bill That Will Provide Debt-Free Higher Education!​

My Take​

Thinking outside the box never seemed to be a big deal in some cases. This is an interesting take on making education readily accessible and, as of now in theory, it's perfect. A great way to make college attendance all the more attractive and can deliver a certain pedigree of delight. If this model works out well, perhaps other states could adopt similar measures to truly give education a better venue.

 

this is why I want to move to Oregon

 

I've heard that Oregon is pretty much accepting of just about anything. I never really knew about it.

 

are you serious?

outside of the box?

pre ronald regan governoship. California had paid all tuition. It was free to go.
This is just another loan basically.

 

Not quite. They are taking 3% of the student's tuition in exchange for it. I wouldn't call it a loan per-se, since loans would require some interests being incorporated into the whole thing. But it's a doable scheme.

 

It is not be helpful. It hurts you in the end. If you are making 60,000 out the gate from a starting job, you basically pay 45000. This is higher than the average student loan. You have to look at it in long terms.

You would have to make 40000 for 25 years to have it close to the average student loan. You don't win in the long term because your pay will increase.

 

Let's see...

If we're talking a monthly deduction of 3% if the individual if the person makes $60,000 per year, then the annual deduction, compounded monthly, would be $1800 per month. It's not a terrible-terrible idea, as it could get worse when accumulating more payments if the route was paying back the subsidized and unsubsidized loans, with their own interests levels within a 30 year lifespan.

I'd say this bill may come off cheaper in the long turn, but that's only if the conditions of the economy actually remains steady.

P.S. I'm using a basic calculation and not the engineering economics model.

 

May be I misread the article I thought it was 1800 per year. 1800 per month is even more insane. The average loan payment per month is no where near 1000. This is not a good idea. They might as well take the loans because it is likely they will pay less unless School cost goes up.

 

I'm only giving an example. I never stated that they are doing it monthly. Just a thought....and yeah it would be really high in that case. If we're talking yearly, then it wouldn't be bad and would show that it's cheaper in the long term as opposed to those paying money back to the likes of Ivy League colleges.

 

Isn't this bill local? It would be odd that the state of Oregon would pay for a student to go to Harvard. States are not friendly to having their talent do anything out of state.

Basically, the higher your pay gets, the worse this idea is for you. There are going to be a lot of kids that don't understand and see the long term in this. He could have simply made a loan at 1% interest and still made a profit without doing damage to the kids. 1800* 25 years is still higher than the average student loan. That's assuming that someone who is making 60000 can't simply pay loan off in 5 to ten years which makes it even worse of an idea to go with this plan.

 

Perhaps the school is doing a collective thing. But why speculate out of the wazoo. There could be some details in it that could be more favorable to the students, and lastly, let's not forget the student loan plan through the Obama administration where you pay it consistently for 10 years, the rest of the loans will be forgiven.

And yes, this is a local bill, so the state of Oregon would be funding all of the public Oregonian universities for students to attend. And besides, they are cheaper than the private ones obviously.

 

It is possible that there are other things in the bill that may help students but so far, this particular idea is a bad one in comparison to the national idea.

 

Ehhh, since Congress failed to keep the interest rates low, this alternative would be better. If the average student loans to be taken out accumulated in a 30 year period is around $21,000 to pay off, not counting interest, then this option would be pleasing and a better alternative from my understanding of it.

 

You both are way smarter than this. 60k a year would mean 1800 a year which is only 150 a month and only applies to state schools. Sounds like an amazing move forward. No interest and it encourages the idea that we are all in this together. Btw the ww their are fucking delicious and they like bm in way higher numbers tgan most states

 

You are not looking at the 25 years which is why I gave the 25* 1800. 45000 that you will pay following this plan. Someone who is making 60000 a year and has the average student loan will come out ahead. They will more than likely pay the loan off before 20 years and have raises at the same time. It just isn't that appealing in the long run. too many people will look at it as it is now not but not in the long run. What happens if you got a 6 figure salary in ten years? It is just heartbreaking when it all adds up.

 

I would actually approve of it, though I would think there would be some incentives to help curb it. But here's hoping that the Forgiveness plan still is in effect long after Obama's term.

 

I would not. You can make a better bill in your sleep than this. I say follow Elizabeth warren's plan at the very least tie student loans to the rate that the Reserves loan their money out .
I'd go further by only giving a 3% interest rate but I am ultra liberal when it comes to funding student's tuition.

 

Did that even go into effect? I like her plan as well, but how much money would we have in our pockets overall?

Actually, educate on this whole plan. A rundown if you will.

 

No, the banks and republicans would vote it down. We would make that money back through the crazy innovations or company that would be taxed. Google is a nice example.

 

Considering the average loan in my state would be 50k with a 6.8% interest rate you're already talking about 300 dollars a month in interest before touching the principle. The Oregon deal is a way better deal.