A funding reset would eliminate almost all student debt for UC students
Pushing the reset button and restoring the promise of California higher education would eliminate almost all student debt for UC students
Under the reset plan (restoring state funding to 2000-01 levels) undergraduate students would save $7, 821 per year (paying $5,379 rather than $13, 200 per year in tuition and fees) or $31,286 over four years. This compares to an average undergraduate student loan debt at graduation (in 2011-12) of $19,751, with only 5% of students graduating with more than $31,401 in debt.
What about CSU?
The reset plan would save CSU baccalaureate students about $2,977 per year (paying $2,495 in annual tuition and fees rather than $5,472) for a total savings of about $11,907 in four years. CSU’s average student loan debt for 2011-12 baccalaureate recipients is $18,460.
What about the effect on Community Colleges?
Under the reset scenario community college students would save about $621 per year (paying $299 per year rather than $920). The big effect on student debt by resetting community colleges, however, would not be due to cutting fees but to restoring funding for the 426,000 students pushed out of community colleges who end up in for-profit places like the University of Phoenix where they accrue huge debts and rarely have anything to show for it. All this costs taxpayers billions.
[…] decisions on our behalf. An enormous amount of research has shown that student debt could be practically eliminated through a minor tax increase. Despite the fact that a couple generations ago, public education in […]