State treasurer pitches college plan

State treasurer pitches college plan

Oregon Treasurer Ted Wheeler aims to make higher education more affordable by having the state invest in human capital instead of physical capital such as buildings and roads.

Wheeler’s plan, which faces several legislative hurdles and would have to be approved by voters, aims to use proceeds from state bond sales to establish a permanent scholarship fund to help students from low- and middle-income families attend a university or community college, or to receive vocational training.

Wheeler, who’s been treasurer since 2010, said his proposal is projected to eventually triple the amount of scholarship money available to help students fund higher education by selling $500 million in bonds backed by the state’s general fund. It would use the interest earned, estimated to be about 7 percent per year, to establish a permanent fund for student aid.

Read more at The Gazette-Times.

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