A wide-ranging plan to make college more affordable and to reduce student debt was approved by the Senate on Monday, December 19th. The 10 bills are based on the recommendations of a blue ribbon study commission on higher education. Over the past three decades, tuition at public four-year colleges has more than doubled, even after adjusting for inflation, according to the U.S. Department of Education. This is especially true in New Jersey, where tuition costs at the public four-year institutions of higher education are the fourth highest in the nation, the commission found.
Today’s students are taking on heavy levels of debt as the burden to finance college has shifted more decisively to students and their families, Senator Sweeney noted. In 2004, total student loan debt was $350 billion. It now stands at a startling $1.2 trillion. Between 1992 and 2012, the average amount owed by a typical student loan borrower who graduated with a bachelor’s degree more than doubled to a total of nearly $27,000.
The College Affordability Study Commission, the 10-member panel formed by legislation authored by senators Sweeney and Cunningham worked since April of 2015 to develop its report and recommendations that shaped the legislative plan.
The commission identified overarching solutions to achieve affordability, including reducing the time it takes to earn a degree, enhancing financial aid programs and helping students and their families understand college financing.
The increasing length of time students are taking to earn their degree is a key contributor to the college affordability problem. According to the National Conference of State Legislatures, just 56 percent of students beginning at four-year colleges complete a bachelor’s degree within six years, while only 28 percent of associate degree-seeking students graduate within three years.
The “3-Plus-1” degree programs will allow students to complete three years at a county college and one year at a four-year college or university and earn a bachelor’s degree, and the three year programs will allow all four-year institutions to adopt a three-year degree model as an option.
The 3-Plus-1 bill will require courses offered in the 3rd year be equivalent and transferable at four-year institutions, and that 300-level courses be taught by advanced degree faculty members in collaboration with or by faculty of the four-year institutions. The plan includes income tax deductions for interest on student loans.
The affordability plan also includes measures to support dual enrollment through a study commission, measures to facilitate the transfer of credits between schools, caps on credit requirements, strategies to encourage students to keep pace with credit requirements and ways to encourage “open resource textbooks,” to make digital textbooks available.
The dual enrollment bill was amended to create a study commission to develop an implementation plan that is not a state mandate. According to a 2013 report of the College Board, college graduates average lifetime earnings that are 65 percent greater than high school graduates, those with advanced degrees earn two to three times as much as high school graduates and those with degrees benefit with more job security. From 1992 to 2012, the unemployment rate for individuals with at least a bachelor’s degree has consistently been about half the unemployment rate for high school graduates.
The Bills Approved By The Senate
1) 3-Plus-1 Degree Programs (S-2623)
The bill would allow the creation of 3-Plus-1 degree programs that allow students to complete three years at a county college and one year at a four-year college or university and earn a bachelor’s degree. In the third year the student follows the curriculum of the senior institution and completes 300-level classes before taking the fourth year at the senior institution. The bill was revised to require courses offered in the 3rd year be equivalent to four-year institutions, and that 300-level courses be taught by advanced degree faculty members in collaboration with or by faculty of the four-year institutions.
2) 3-Year Degree Programs (S-2620)
The bill would allow all four-year institutions to adopt a three-year degree model as an option, especially for students ready to commit to a major early on in their college career. The programs will address which majors, eligibility criteria, incentives, and student support services. There would be an exemption process for schools that offer three or fewer undergraduate degree programs.
3) Dual Enrollment (S-2624)
The bill would create a study commission to develop a dual enrollment plan by January of 2018. The plan would recommend policies and an implementation strategy. The cost estimates and guidelines would ensure that it is not a state mandate.
4) Tax Deduction for Student Loans (S-2484)
The bill would allow state income tax deductions for interest on student loans for families with joint incomes up to $160,000 or single incomes to $80,000.
5) TAG Expansion to Summer Semester (S-2621)
The bill would allow eligible students to apply their TAG funding towards summer enrollment and offer an option for the three-year accelerated degree at four-year institutions.
6) Degree Caps (S-1871)
The bill would require colleges and universities to cap the credit requirements at 120 credits for bachelor degrees and 60 credits for associate degrees. The bill would allow for waivers for select programs.
7) Reverse Transfer Policies (S-2618)
Reverse transfer is the process of combining credits earned at a county college and a four-year institution for the purpose of awarding an associate degree from the county college. The bill would require all institutions of higher education to adopt uniform standards for transferring course credits and to communicate the transfer process as transcripts are exchanged and course equivalencies are discussed.
8) 15 Credit Strategies (S-2617)
The bill would encourage students to take a full course load each semester, informing them of the costs and consequences of delayed course work. The effort could include media campaigns and financial incentives to carrying 15 credits per semester.
9) Open Text Books (S-2619)
The bill would encourage open resource textbooks, making available digital textbooks as a means of affordable alternatives. Additionally, the commission encourages institutions of higher education to evaluate possible ways to reduce other non-tuition costs, which may include offering more flexible options with respect to meal plans and housing. It would not be mandated as a free service.
10) Bridge Agreement – SR84
The resolution would urge the establishment of additional bridge agreements between county colleges and four-year institutions of higher education.
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