Connecticut House Bill HB05241

Connecticut 2014 Regular Session

• Introduced: 2/19/14
• Refer: 2/19/14
• Report Pass: 3/13/14
• Refer: 3/28/14
• Report Pass: 4/3/14
• Engrossed: 4/28/14
• Report Pass: 4/30/14

Caption

An Act Requiring A Study Of A Pay-it-forward College Payment Plan.

Impact

If implemented, HB05241 could significantly alter state laws regarding the funding of higher education and the financial responsibilities of graduates. This introduces a new model of student funding that shifts from traditional student loans to a pay-it-forward system. Such a change could make public higher education more accessible for economically disadvantaged students and could reinvigorate the conversation around educational financing at the state level, particularly in light of growing student debt concerns across the nation.

Summary

HB05241, also known as the Act Requiring a Study of a Pay-it-Forward College Payment Plan, aims to explore the feasibility of a program that allows Connecticut high school graduates to attend public colleges tuition-free. In exchange for this benefit, graduates would agree to pay a percentage of their future earnings into a fund that would support the tuition of subsequent high school graduates. This bill serves to address the rising costs of higher education and looks to establish a sustainable funding model for public higher education in Connecticut.

Sentiment

The sentiment around HB05241 appears to be generally supportive among advocates of educational reform and accessibility. Proponents argue that this model could provide a viable solution to the challenges of student debt and rising tuition fees. However, there may be reservations among fiscal conservatives regarding the long-term sustainability of the fund and whether future graduates will be able to fulfill their repayment commitments. The potential outcomes of the proposed study could lead to intense debate among lawmakers and constituents alike.

Contention

A notable point of contention surrounding HB05241 revolves around the mechanisms for implementing and managing the pay-it-forward system. Questions have arisen about how the fund would be sustained over time and what percentage of earnings would be appropriate. There are also concerns about ensuring that the program does not inadvertently disadvantage certain groups of students based on their future earning potential. Careful consideration of these aspects will be crucial to the bill's potential implementation and effectiveness.