Fix UC, a group of students at UC Riverside, have come up with a rather impressive proposal that would delay students' tuition until after they graduate, which they say could triple UC's revenue over 20 years. UC President Mark Yudof says the plan is "a constructive idea," and the university's best "number crunchers" are currently reviewing it.
The plan, which would be phased in over several years and would start taking effect in the seventh year, would require students to commit to paying 5 percent of their annual income for 20 years after graduating. KGO explains the numbers thusly: "For a graduate averaging $50,000 per year, it means $50,000 over two decades, about the same as four years of tuition. If you average $100,000 in income over that time, you pay $100,000."
According to the L.A. Times, the plan would offer discounts for transfer students, graduates who work in public service careers, and those who stay and work in the state. Out-of-state and international students would pay 6% per year. The plan would also include dormitory costs.
The proposal is still in the very early stages with lots of issues that would need ironing out, such as whether students can opt out of the plan and how the university would deal with tracking down late payments.
Berkeley Patch is currently conducting a poll about the plan. Seventeen out of the current 35 respondents think it's a bad idea. What do you guys think?