By snoadmin
One reason why many students dread graduating is because of the college tuition debt they have hanging over their head.
With California college tuition rising and more students following a five-year plan due to less available seats in required classes, college debt is skyrocketing for the modern college graduate.
However, students from University of California, Irvine have a plan they say could lessen the blow of future college loan bills as well as help university funding in California.
FixUC is a proposed plan to charge graduating students five percent of their annual salary from their future job over the span of 20 years.
This would be instead of charging the normal semester tuition. The plan would apply to graduates with jobs that make between $30,000 and $200,000 a year.
This plan may seem tantalizing at first. The proposal essentially assures that students will be able to pay off their tuition because it will come out of money they’re guaranteed to have.
This would relieve the stress of finding a first job within the six months following graduation before student loan bills begin to arrive as well.
However, there are plenty of flaws.
This plan does not guarantee financial stability for the university. Universities would be taking a risk because the ultimate tuition they would get back would be unknown. It is impossible to predict what a student would make in their first job.
Also the flat rate of five percent would mean that students in majors like engineering and computer science would pay more than students in degrees like theater arts. This is because salaries in these fields command a better salary.
However, one could argue that students pursuing degrees in engineering and computer science should pay more because they’re expected to make more money in the future. It would add weight to majors that produce better paying careers.
But, if California is the only state to take on this new policy, the talent level in higher paying majors may decrease. Students in these majors may seek out other schools in other states where tuition is a flat rate for everyone, knowing full well they will make more money this way in the future.
The tuition money coming out of a graduate’s salary is essentially paying for someone else’s education. Since enrolled students would not have to pay until they graduate and get their first jobs, a university’s finances would fall on the shoulders of alumni.
Those in support of the plan should consider how alumni will feel about the plan. After graduating, alumni will feel less inclined towards paying for another college student’s tuition. Let alone for 20 years.
Also, as a graduate begins to work up the ladder and make more money, they’ll see more of their money going to their university. For many, it will be less of a financial loss to pay the flat rate of tuition up front.
While FixUC has good intentions in trying to find a way to fix student debt in California, there are too many flaws. Unfortunately, the way California universities currently charge for tuition is the only fair way. Even with tuition being higher now than ever.
