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  • Timothy McLaughlin

The Future of College


Post-secondary education is very important to me as well as many others in the state. Currently, we are expecting 18 year olds to make career decisions at such a young age. Students must choose professional training or college majors where they have debt for decades. The average amount of debt a 2018 college graduate had was nearly $40,000, according to CNBC. CNBC also found that student debt is larger than credit card debt in America. It is staggering to see these numbers. Students are our future; they shouldn’t be in a place where they will have to decide between healthcare or a loan payment. We must protect our future. One way we can do this is to change the way we pay for college. Our current Governor has made an ambitious goal to make RIC the most affordable college in the country. One way this can be achieved is not by giving college away for free, or even by providing more aid money, but rather, a student could sign an Income Share Agreement. In this unique financing plan, a graduating student would agree to a loan payment taken directly from their paycheck for a set number of years. This loan payment would be income based. In this income share agreement, a graduate is not punished for not having a job, since they only are obligated to make payments when they have a job. Once a graduate has a job they continue to repay a portion of their income. Colleges have started to look at this method of repayment for college and is looking to be a promising one for graduates who may struggle to find an initial job and will remove the hard choice many people make on either paying for food or paying their students loans when they are not employed. With me elected as your representative we can ensure future students have a bright future ahead of themselves!

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©2019 by Timothy McLaughlin