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...more on a turn-of-the-century education. One such measure has passed the Michigan house of representatives and is pending before the state senate. If the bill passes, as expected, it would enable Michigan parents with newborn babies to invest roughly $3,000 in future tuition with a new state authority. In return, the children would be guaranteed a full four years at any of the 15 colleges in the state system starting in 2005. For the state, meanwhile, the money would have ballooned in a way that private investments rarely can. "We have tax-exempt status that...
...however, can -- and do. Duquesne University in Pittsburgh provided the model for the pay-now, go-much-later concept a year and a half ago, when it initiated a plan, originally for the children of alumni, by which a payment of $4,450 to the school bought four years' tuition 18 years later. Some 600 have signed up, including nonalumni students, who have since been brought into the program. Canisius in Buff'lo and the University of Detroit now provide similar plans. All three also offer rate-for-'ge variations. A 17-year-old bound for Detroit, for example...
Northwestern has used tax-exempt revenue bonds to finance low-cost, variable- rate tuition loans (8% to 8.25% so far). Many of the loans, which have paid an average $6,000 apiece to about 4,500 borrowers in the plan's three years, are aimed at middle-class parents whose relatively comfortable incomes ($40,000 to $100,000) disqualify their children for conventional forms of need-based aid. In addition, the Massachusetts-based Consortium on Financing Higher Education, whose 30 members include Northwestern, Harvard, Yale and Stanford, provides supplemental $2,000 to $15,000 loans to the same kinds...
More than 20 would-be sleuths have applied so far for the Miami course. Liddy plans to offer similar instruction in nine other U.S. cities in the coming months. Tuition includes ammunition but not room or board, and Liddy requires an extensive personal-background check before anyone is admitted to his course. Says Liddy of the new academy: "The need is obvious." He should know...
Another attraction is the program's minimal cost. Tuition for eight credits, or two courses, is only $200. The summer program is subsidized by a $25,000 grant from the Ukrainian Studies Fund, a multi-million-dollar community chest for higher education...