Now, the question aries: What about your state?!"(ANNAPOLIS, MD) August 2, 2013 -- Following the recent passage of the 'Pay It Forward, Pay It Back' bill that overwhelmingly passed the Oregon State Legislature in July, Delegate Kirill Reznik (D- Germantown) plans to introduce a similar bill in Maryland. If passed, Maryland would become the second state to explore alternative options to the mounting student loan debt epidemic.
"'Pay It Forward, Pay It Back,' is an idea that originated out of a Capstone Seminar on student debt out of Portland State University, generating an innovative solution to student loan debt. Whereby students would go to college tuition free and then give back a small percentage of their gross annual income over the next 20-25 years until their tuition was paid in full. Ironically, Oregon passed the "Pay It Forward, Pay It Back" bill on the same day that Congress voted to double student loan rates.
"Delegate Reznik will be introducing legislation to authorize a study to determine whether or not such an idea will work and how best to roll it out.
"'Receiving a higher education is the most effective way to promote economic mobility. Unfortunately, the cost of education shuts out those opportunities for too many Marylanders. As the State with the best public education system in the country, we should also be on the forefront of expanding higher education. The economic opportunities that will come along with this innovative approach will make Maryland a top destination for business and industry,' said Delegate Reznik.
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"Delegate Kirill Reznik is a member of the Maryland House of Delegates representing the 39th District in Montgomery County. His district includes the areas of Gaithersburg, Germantown, Montgomery Village, Washington Grove, North Potomac and segments of Darnestown, and Derwood. He began serving in the House of Delegates in October 2007, and sits on the Health Government Operations committee. He was currently appointed to serve as the Chair of the County Affairs Committee within the Montgomery County House Delegation."
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