Vicente González Intros Bill in Response to College Admissions Bribery Scandal
Congressman Vicente González (D-TX) on Tuesday introduced a bipartisan bill designed to allow prospective students to reach innovative agreements with universities on how to pay for college. The Kids to College Act, which González introduced with Congressman Mark Green (R-TN), comes in response to bombshell reports that some members of America’s elite class have gamed the systems of higher learning by bribing admissions counselors and bumping deserving kids. The bill would authorize “income share agreements,” where students borrow money from the school to pay tuition and repay the college or university with a percentage of future earnings. This way, colleges and universities are incentivized in helping students secure good paying employment after they graduate. “Every prospective college student deserves fair, equal access and consideration to a higher education - without the threat of monumental student loan debt,” González said. “Currently, over 44 million Americans are burdened by $1.5 trillion in outstanding federal student loan debt. This bipartisan legislation would aim to level the playing field by allowing alternative repayment options through income share agreements.” More here.