U.S. Rep. Dr. Mark Green (R-TN-07) wrote an op-ed recently explaining how one of his bills would solve the student debt crisis.
Green published the op-ed last Friday in The Daily Signal discussing his Kids to College Act, which is cosponsored by U.S. Rep. Vicente Gonzalez (D-TX-15). The op-ed is available in its entirety here.
Colleges could begin offering “income share agreements,” where students agree to pay for college with a percentage of their future earnings. This way, colleges and universities would be incentivized to help students secure good paying jobs after they graduate, because tuition payments would depend on it.
Responsibility would fall on the student as well. Income share agreements would encourage prospective students to research starting salaries for their major and learn what they can expect in return for their studies.
In a desire to see income share agreements more widely offered, my Democratic colleague Vicente Gonzalez of Texas partnered with me to introduce the Kids to College Act, a bipartisan bill that would encourage more schools to utilize these agreements.
In his op-ed, without naming names, Green criticized 2020 Democratic presidential candidate U.S. Sen. Elizabeth Warren’s (D-MA) plan to wipe out up to $50,000 of student loan debt for more than 42 million Americans.
Green’s and Gonzalez’ bill would encourage higher education institutions to pursue income share agreements (ISA), as reported by The Tennessee Star on March 19.
The Kids to College Act is a response to recent college admissions scandals, The Star said. By authorizing “income share agreements,” colleges and universities are incentivized in helping students secure good paying employment after they graduate.
Green’s and Gonzalez’s bill comes in response to multiple media outlets, including The New York Times, reporting a major federal sting that resulted in at least 50 people being arrested. Officials said the scheme revolved around a college admissions company allegedly bribing university officials to admit students on false pretenses as members of sports teams or allegedly cheating on standardized tests, according to The Times.
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Jason M. Reynolds has more than 20 years’ experience as a journalist at outlets of all sizes.