Word: tuition
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Dates: during 1960-1969
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...Senate tried to solve the problem last April when it approved a bill sponsored by Sen. Abraham A. Ribicoff (D. Conn.) which allowed everyone who pays college tuition costs to receive a credit on his income tax. Ribicoff had introduced his plan in several earlier sessions, but it had never been close to passage before last year, when Senators began feeling pressure from their constituents. However, tax leaders in the House agreed with criticism which had been offered in the Senate, and the Ribicoff bill died in committee. Senate liberals had condemned the plan as "class legislation" since...
...self-sustaining. Borrowers would begin to re-pay more than they had been loaned, so there would be no need for perpetual government expenditures. However, the initial outlay needed to set up the Bank might be a formidable obstacle. Assuming that costs continue to rise and that all college tuition fees are paid by Bank loans, the Zaccharias committee estimates that in 20 years the Bank's outstanding fund might be as large as $250 billion, or one-seventh of the projected GNP. A substantial portion of this fund would be provided by sale of government bonds and by Congressional...
...usually cannot afford to live away from home. Unless they would be willing to see their best students use the loans to attend a more expensive college, institutions would be forced to compete for them by raising the quality of their education. This process would probably lead to higher tuition costs...
Advocates of "free tuition" have denounced the plan because it would make student indebtedness a permanent feature of their higher education. Supporters of the Bank are not worried by this charge. College graduates receive much higher salaries than people with less education, so they can be expected to pay part of the cost, By basing re-payment on a borrower's income, the Zaccharias plan in theory charges each participant in direct proportion to the financial benefits which his education gives...
Nevertheless, sentiment for free tuition is not completely unfounded. Society also benefits if its electorate and labor force are well educated, and it has a vital interest in helping maintain its educational institutions. The second question uncovers the greatest trouble with the Zaccharias plan: the Bank might serve to excuse the nation from its responsibility to educate its citizens...