It sounds a lot like a credit card commercial, but it’s actually a pitch to go to college: Buy now, pay later.
WORLD on Campus reports on a new “free” college program proposal in Oregon, except it’s not free, far from it. But it taps into America’s obsession with buying things they can’t afford, and racking up debt that one won’t have to worry about just yet, with strings attached:
… The education is far from free-the bill comes due after graduation. As compensation for the “free” education, the government will take 3 percent of everything a participating student earns each year for up to 25 years.
This compulsory payment will continue regardless of income level and total dollars already paid. Those who earn higher incomes can’t choose to pay more and be free before the time is up. Alternately, people earning less money will not have flexibility with their rates, either.
By the way, “Oregon still needs to figure out where it will get the $9 billion it needs for startup costs. The legislature also has to approve the final plan developed by the Higher Education Coordinating Commission,” WORLD reports.
Maybe there’s a chance it will be declined.