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March 21, 2014 @ 05:42 PM
recognize

Post: 227

Join Date: Mar 2013

Location: 510

http://www.freep.com/article/20140319/NEWS06/303190038/Pay-it-forward-Plan-would-allow-Michigan-students-to-attend-college-for-free-
http://www.huffingtonpost.com/2014/03/20/michigan-pay-it-forward-college-tuition_n_4996036.html

basically, michigan niggas go through their shit tuition free, but are placed under a program where they pay based off their future income after they graduate. [2% if CC] [4% if UNI] the money is then used for the next years students

what do y'all think

nostalgic 64 - shinobi steelo

March 21, 2014 @ 07:53 PM
Black Donald Trump

Post: 1580

Join Date: Apr 2008

oh shit thats kinda smart. they need to make some kind of change, the way shit is set up right now is terrible. rich kids go to good schools and graduate debt free while middle class/poor kids end up in crazy debt just trying to get by, working full time jobs while in school. shit is tough. if things continue they way they are going i really think people will just stop going to college because at some point the rising tuition is just not going to be worth it. the rich will get richer and the poor will get poorer. 
this will also give schools incentive to give kids the best possible education to make them successful as successful as possible in the future, as apposed to the current trend I'm seeing where schools spend a lot of energy just trying to get students to go to their school so they can get that tuition $.

I'm very interested to see how this would turn out
March 21, 2014 @ 09:23 PM
The Fiasco

Post: 2549

Join Date: Apr 2006

Location: Chicago.

I did some "back of the envelope" calculations:
Assume starting salary of $40k (that's what I made).
Assume a 10% annual salary growth (that's my growth rate to get from starting salary to current salary after 10 years in the field).
Assume 4% EduTax annual for 20 years (that's what the article said)
You end up with a 20 year "total payment" of $91,640.00. 

Not so free when you actually do the math.

Chicago85 at karmaloop.com for 20% off

March 21, 2014 @ 09:28 PM
oneallah

Post: 3259

Join Date: Mar 2012

Location: in yo closet

college tuition be killing niga doe
im paying 1500 a semester for one class
March 21, 2014 @ 10:44 PM
recognize

Post: 227

Join Date: Mar 2013

Location: 510

I did some "back of the envelope" calculations:
Assume starting salary of $40k (that's what I made).
Assume a 10% annual salary growth (that's my growth rate to get from starting salary to current salary after 10 years in the field).
Assume 4% EduTax annual for 20 years (that's what the article said)
You end up with a 20 year "total payment" of $91,640.00. 

Not so free when you actually do the math.
well yeah see that's the thing, its pretty much an investment to the education system being good enough to produce high earners.

this program is not really about going to college for 'free' as it's main objective is to eliminate the financial barrier that keeps lower earning families to provide higher education to their young's

nostalgic 64 - shinobi steelo

March 21, 2014 @ 11:22 PM
fortyseven

Post: 261

Join Date: Nov 2012

Location: 206

They should offer a similar program where a parent could set that up with their current job and it would eventually pay for their child's college tuition in the future. That way it truly is "paying it forward", set up your own kid with school and zero debt. On top of that the government would be getting money instantly for something that hasn't even happened yet. win-win.
March 22, 2014 @ 06:21 PM
Black Donald Trump

Post: 1580

Join Date: Apr 2008

I did some "back of the envelope" calculations:
Assume starting salary of $40k (that's what I made).
Assume a 10% annual salary growth (that's my growth rate to get from starting salary to current salary after 10 years in the field).
Assume 4% EduTax annual for 20 years (that's what the article said)
You end up with a 20 year "total payment" of $91,640.00. 

Not so free when you actually do the math.
If you started at 40k and salary went up 10% every year you would be making 200k+ after 20 years. Also a total payment of 90k is pretty good, that's like an annual tuition of about 22k which is pretty average for most decent schools, and that's not including all the interest that would be tacked on with our current system. Seems like a steal to me if you end up making 200k a year
March 22, 2014 @ 06:29 PM
fucktyson

Post: 201

Join Date: Jan 2013

Location: Australia

Goddamn you Americans have it hard. We've had that shit in Australia for a while now and our classes aren't nearly as expensive. Then again the College experience in America smashes ours. Still way too expensive for an education though.
March 23, 2014 @ 07:50 PM
Black Donald Trump

Post: 1580

Join Date: Apr 2008

Goddamn you Americans have it hard. We've had that shit in Australia for a while now and our classes aren't nearly as expensive. Then again the College experience in America smashes ours. Still way too expensive for an education though.
ya its pretty rough and costs are going up every year. I'm thinking of going to grad school but i think i might try going somewhere in Europe and doing it there because it would be much cheaper or even free. 

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