Connecticut House Bill HB05128

Connecticut 2014 Regular Session

• Introduced: 2/13/14
• Refer: 2/13/14

Caption

An Act Replacing Tuition And Fees At Public Institutions Of Higher Education With Pay Forward, Pay Back Financing.

Impact

The proposed bill has the potential to reshape the financial landscape of higher education in the state. By enabling students to delay tuition payments until they secure employment and earn an income, proponents argue that this model could reduce student debt accumulation and increase college enrollment rates. Advocates believe this could create a more equitable education system where students from various socio-economic backgrounds have the opportunity to pursue higher education without the daunting upfront costs that often hinder access.

Summary

House Bill 05128 proposes a significant change to the current funding model for public institutions of higher education by replacing traditional tuition and fees with a Pay Forward, Pay Back financing system. Under this model, students would agree to pay a certain percentage of their annual adjusted income to the educational institution for a specified number of years after graduation. This approach aims to alleviate the immediate financial burden of tuition expenses, making higher education more accessible to a wider range of students.

Contention

However, the bill has drawn some criticism and concerns regarding its financial viability and implications. Critics argue that tying tuition repayment to income could be problematic for students entering low-paying jobs or those facing unemployment after graduation. There are apprehensions that this model might create a prolonged obligation for graduates, leading to extended repayment terms that could outlast their initial expectations when entering higher education. Additionally, there are discussions about how this change might affect state funding for institutions and whether it could lead to a disparity in the quality of education based on income levels.