Town offers to pay off your student debt

Discussion in 'Community Board' started by teller80, Nov 5, 2018.

  1. AurumPunzel

    AurumPunzel Mouseketeer

    Joined:
    Aug 20, 2018
    Messages:
    154
    If only my government would do the same...
     
  2. ronandannette

    ronandannette I gave myself this tag and I "Like" myself too!

    Joined:
    May 4, 2006
    Messages:
    11,776
    Just curious - what’s the average cost of a post-secondary degree in Britain? In Canada it’s significantly less than in the United States. Not to say young people here don’t have student debt (many do) but not necessarily the crushing, high-five-figure or beyond amounts that some of our DIS friends refer to.
     
  3. Avatar

    Advertisement


  4. Pea-n-Me

    Pea-n-Me DIS Veteran

    Joined:
    Jul 18, 2004
    Messages:
    29,298
    Ten to fifteen years is an awfully long time.

    If someone does this when they're 25 or 30, when time is up, they're 40 to 45, and some of the best years of their lives have gone by!

    It's great if they're happy, but not-so-great if they're not.

    This is the perspective of someone who did something similar:

    https://qz.com/quartzy/1296898/verm...and-work-remotely-heres-what-you-should-know/
     
  5. Happyinwonerland

    Happyinwonerland DIS Veteran

    Joined:
    Jul 1, 2014
    Messages:
    2,232
    I checked zillow and only found 7 homes for sale in Newburgh Heights, OH. How much tax revenue are they expecting generate off of a current max of 7 people?
     
  6. soccerdad72

    soccerdad72 DIS Veteran

    Joined:
    Oct 23, 2012
    Messages:
    3,599
    Well, given the town is only 2,000 residents right now, I suppose 7 more taxpayers might move the needle a little bit.
     
  7. Colleen27

    Colleen27 DIS Veteran

    Joined:
    Mar 31, 2007
    Messages:
    20,367
    It likely isn't just about tax revenue. I live in a community with a declining population and the loss hits more than just the tax rolls - fewer kids means less funding for schools, but the buildings don't get any cheaper to maintain; fewer residents means fewer consumers so attracting and retaining businesses becomes a more difficult task; businesses are operating short-handed because they can't find locals to fill jobs and few non-residents are interested in the commute when there are jobs available in their own areas, etc. We don't have any local income taxes in my area but we do have a student loan incentive to encourage our young people to come back after leaving for college/to start a career, and it isn't for the minuscule potential property tax impact. It is to start attracting young people and young families to help balance out a shrinking, aging population.
     
  8. MrsPete

    MrsPete DIS Veteran

    Joined:
    Feb 24, 2002
    Messages:
    12,156
    It's an interesting way to bring in new residents, revenue and business. I'd like to hear -- in a few years -- if it's working. I agree with the person who says that thanks to the ability to telecommute, it's more possible today than ever.
     
  9. AurumPunzel

    AurumPunzel Mouseketeer

    Joined:
    Aug 20, 2018
    Messages:
    154
    The universities here can charge up to a maximum of £9,250 ($13,050 US) per year, and add the maintenance loan on top, the debt can be within the high 5-figures.
     
  10. Boardwalk Jedi

    Boardwalk Jedi Mouseketeer

    Joined:
    Dec 28, 2016
    Messages:
    325

    I imagine you aren't tied to it if you don't like living there. Usually these incentives are in cities many consider "less desirable". There are people who are willing to give it a chance and city living is a pleasant surprise for many families (one I miss dearly!).

    My friend lives in a town that offers free orthodontics to all kids under 18 thanks to an endowment by a wealthy woman. That sounds awesome. But she's in woods in the middle of nowhere. She loves it, but I'll pay for the teeth thank you very much. LOL
     

Share This Page