Student loan debt is currently outpacing credit card debt. People throughout the country are attempting to find more affordable ways to pay for college, and the Obama Administration is making moves to try to bring down the cost of higher education.
The issue of paying for college prevents many students from furthering their education and causes others to drown financially.
What if students could go to school without having to pay a single cent up upfront? A new plan from Fix UC – a student created and run organization attempting to solve the University of California’s current funding crisis – is proposing a way to make that a reality.
The Fix UC Plan: Once graduates of the school secure jobs, they will pay 5% of their income over the next 20 years. Payments to the school will be entirely based on alumni salaries, eliminating the financial burden of fees, loan payments and interest. The plan’s outline will supposedly also allow the UC system to eventually incur enough revenue in order to put an end to its reliance on funding from the state.
What do you think of this proposal? Is it a better option for students? Is it a realistic solution?
Read about the types of loans that are available and find out how to keep student debt low. Find California colleges.
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