The latest, greatest idea for making a college education affordable sounds simple enough — students can attend school for free.
But there’s a catch.
In return for free tuition, students have to agree to pay a fixed percentage of their future income for a specified number of years to a special fund that would pay other students’ college bills.
A version of the pay-it-forward tuition plan was introduced recently in the Michigan Legislature and is awaiting action. More than 20 states are looking at some version of the plan, although most are simply looking at studying it, while the Michigan bill would set up a pilot program.Details