An existing issue with our current financial aid system is that middle class students don’t qualify for low income scholarships such as the Blue & Gold Plan AND don’t make enough to afford higher education. So then how do they pay for their degree? By taking out loans, and LOTS of them. The average college graduate graduates with not only a degree, but also an average of $25,250 in loans. Right now in our nation, the total student loan debt is MORE than the credit card debt. Furthermore, with our economy the way it is, the employment rate for young college graduates is only a small 9.1% Obviously, there is something wrong with this picture.
California Assemblyman John A. Perez is proposing a plan that will close a loophole that will channel a tax from out of state corporations into higher education that totals to about ONE BILLION DOLLARS. $150 million will go to California Community Colleges to fund scholarships and the rest will go to the UC and CSU system. If his plan passes, tuition for CSU and UC students who meet the requirements will be CUT BY TWO THIRDS! The plan defines middle class as students whose family income is less than $150,000 annually and the student must apply for financial aid and submit his or her FAFSA on time.
For more information and to get involved check out http://asmdc.org/issues/middleclassscholarship/
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