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New York Governor, Andrew Cuomo Proposes "Free Tuition" For Public Universities
Zero Hedge ^ | 01/03/2016

Posted on 01/03/2017 2:42:15 PM PST by SeekAndFind

There is little doubt that easy access to federally subsidized student loans has contributed to the astronomical increase in the cost of attending college in the United States.  After all, what 18 year old would turn down $200,000 in free money to party for 4 years?  As an added bonus, when you figure out upon graduation that your degree in anthropology if fairly worthless, you can always just move back in with mom and force taxpayers to pick up your debt burden.  Anything less would be a substantial "triggering" event and we just can't have that.

As we noted roughly a year ago, the amount of student debt outstanding is on track to reach nearly $17 trillion by 2030...which is clearly enough artificial demand to send the price of almost any commodity product soaring.

Student Loan Debt

 

Well, apparently New York's Governor doesn't think that misinformed government policies are doing nearly enough to drive up college tuition costs.  As a result, he has decided to jump on the Bernie Sanders bandwagon with a new proposal that would provide free tuition at public state and city colleges to any student whose parents earn less than $125,000.

As the New York Times notes, Cuomo's plan could apply to as many as 1 million New York families though it was not "immediately clear how the program would be paid for"...which is just a minor detail anyway.

Mr. Cuomo hopes for a quick start for his idea, with a three-year rollout beginning in the fall, though it will require legislative approval, a potential snag when the governor and lawmakers on both sides of the aisle have been at odds over a pay raise and other issues.

 

It was not immediately clear how the program would be paid for, though the administration said the state already provided nearly $1 billion in support through its tuition assistance program; those awards are capped at $5,165, and many of the grants are smaller.

 

If the plan is approved, the Cuomo administration estimates the program would allow nearly a million New York families with college-age children, or independent adults, to qualify.

 

Current tuition at four-year State University of New York schools for state residents is $6,470; at two-year community colleges the cost is $4,350. Costs for City University of New York schools are approximately the same.

Of course, "free tuition" isn't really free and is estimated to cost New York taxpayers roughly $163mm by the time it's fully implemented in 2019.

Oh well, we guess this is just a simplification in the process...why go through the bother of underwriting student loans just to have taxpayers pick up the bill later anyway?  With the governor's plan, you just go straight to taxpayers for a handout upon enrollment.  Moreover, taxpayers save on the interest costs associated the defaulted student loans so this is really a win for everyone.



TOPICS: Culture/Society; News/Current Events; US: New York
KEYWORDS: andrewcuomo; college; newyork; tuition
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To: SeekAndFind
Andy is much dumber and further left than Daddy Cuomo ever was - have you ever noticed that the loser who inherited daddy's job is without exception, the biggest failure ever? - HMMM... 'Free Tuition'? Yes, it is all free comrades, it won't cost any one of us nary a farthing... FREE! Andy (L) Mario (R)
21 posted on 01/03/2017 2:57:40 PM PST by heterosupremacist (Resistance to tyrants is obedience to God ~ Thomas Jefferson)
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To: SeekAndFind

and how will they pay for it? Yup- raising taxes- enjoy higher taxes folks


22 posted on 01/03/2017 2:58:32 PM PST by Bob434
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To: heterosupremacist

Free has always been code word for FRAUD


23 posted on 01/03/2017 2:58:49 PM PST by Professional
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To: SeekAndFind

Let’s see what happens when Trump pulls Federal funding for Sanctuary nonsense


24 posted on 01/03/2017 2:59:26 PM PST by Be Careful
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To: SeekAndFind

Hey, if the voters that live in the lunatic asylum that is New York vote to pay for “free” tuition, then so be it. As long as the state doesn’t come looking for a federal handout when this Ponzi scheme collapses like all the other Welfare State “free stuff” schemes do.


25 posted on 01/03/2017 3:02:57 PM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: LS
It's not really the professors, it's all the other stuff. (Just because the gov't is throwing money at it)

There's never any competition because the accreditation associations rule.

Drop those regulations, and you will see others jump into this easy market.

It's not rocket science, I promise you.

26 posted on 01/03/2017 3:09:43 PM PST by Concentrate (ex-texan was right. And Always Right was wrong, which is why we lost the election.)
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To: Opinionated Blowhard

More “welfare” for the gibsmedats and free loaders who are too damn lazy to earn their own way.


27 posted on 01/03/2017 3:10:26 PM PST by DaveA37
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To: LS

Ah, we finally found where the money tree grows - New York!!


28 posted on 01/03/2017 3:11:12 PM PST by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-hereQaeda" and its allies.)
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To: SeekAndFind

(US Attorney) Preet Bharara must be closing in on Cuomo.


29 posted on 01/03/2017 3:12:17 PM PST by Sooth2222 ("Every nation has the government it deserves." - Joseph de Maistre (1753-1821))
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To: SeekAndFind

We need free prison for public officials.


30 posted on 01/03/2017 3:15:31 PM PST by SpaceBar
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To: SeekAndFind

Trump could have a government agency put together a free online college using just free stuff on the internet - for less than a million for a few admins and bandwidth. There’s your free college and you’re welcome. No, it’s not the best. It’s free.


31 posted on 01/03/2017 3:17:02 PM PST by \/\/ayne (I regret that I have but one subscription cancellation notice to give to my local newspaper.)
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To: SeekAndFind

Identifying the next bubble desiged to bankrupt the country via Cloward-Piven - Public debt to pay for college tuition. Governor Cuomo is clearly making a play for the 2020 RAT nomination.


32 posted on 01/03/2017 3:24:39 PM PST by Rockitz (This is NOT rocket science - Follow the money and you'll find the truth.)
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To: csvset; A_Former_Democrat
I think he’ll probably be indicted before 2020.

Then he'll definitely be a shoe-in for the Democrat nomination.

33 posted on 01/03/2017 3:27:21 PM PST by fwdude (Democrats have not been this angry since Republicans freed the slaves.)
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To: SeekAndFind

The Soviets and Chinese Communists had free college that teaches what our colleges teach — they were called Re-Education Camps and you were forced to go.


34 posted on 01/03/2017 3:27:58 PM PST by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: SeekAndFind

There is no such thing as “free tuition”.


35 posted on 01/03/2017 3:29:38 PM PST by WayneS (An appeaser is one who feeds a crocodile, hoping it will eat him last. - Winston Churchill)
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To: SeekAndFind; All
"As the New York Times notes, Cuomo's plan could apply to as many as 1 million New York families though it was not "immediately clear how the program would be paid for"...which is just a minor detail anyway."

Here’s how California and New York could work together so that California can provide “free” healthcare to everyone the world, New York likewise providing a “free” college education for everybody in the world. /semi-sarc

California can work with New York and patriots to support Trump in putting a stop to unconstitutional federal taxes, taxes that Congress cannot justify under its constitutional Article I, Section 8-limited powers, healthcare and education not among those powers.

After unconstitutional federal taxes are stopped, then the states will probably find a tsunami of new revenues that they probably won’t know what to do with.

Then, depending on the threshold of pain of California and New York voter-taxpayers, California can start paying for “free” healthcare for everybody in the world, New York likewise paying for a college education for everybody.

Patriots need to support Trump in draining the unconstitutionally big federal government swamp.

But if Trump and patriots fail to completely drain the swamp, then it is only a matter of time before a lawless president works in cahoots with corrupt Congress to once again steal state powers, using those stolen powers oppress the sovereign states and their citizens.

36 posted on 01/03/2017 3:33:00 PM PST by Amendment10
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To: SeekAndFind

He forgot the Obama phone, the condo free for life, a Ferrari and a 20 pound bar of gold and a lifetime pass to the Moonlight BunnyRanch in Nevada.


37 posted on 01/03/2017 3:36:26 PM PST by Stayfree (LIBERALISM & STUPIDITY ARE BOTH INCURABLE MENTAL DISEASES OFTEN FOUND TOGETHER!)
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To: CodeToad

“If the public school system would actually teach, college wouldn’t be necessary for most people.”

Don’t tell that to a Communist-they need the extra four years to fully indoctrinate the young revolutionaries! /s;)


38 posted on 01/03/2017 3:38:11 PM PST by Frank_2001
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To: SeekAndFind

If HE wants to foot the entire bill, that would work for me.

Otherwise, it’s NOT free.

We’ll all be paying for it one way or another.


39 posted on 01/03/2017 3:41:54 PM PST by metmom (...fixing our eyes on Jesus, the Author and Perfecter of our faith...)
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To: SeekAndFind

...It was not immediately clear how the program would be paid for,...
Of course not. The answer is too obvious.


40 posted on 01/03/2017 3:45:02 PM PST by Sasparilla (I 'm Not tired of Winning)
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