Posted by Pat Turner on 4/16/2017 to Federal and State Taxes
IncSmart New York (Small Business and Startups) - The Democrat promise of free tuition is one step closet in the state of New York at the cost to tax payers of over $163 million per year. With Tennessee and Oregon already offering free tuition at two year institutions, New York will be the first state to offer 4 year degrees. Cuomo estimates that while one million families will be eligible and could start this fall.
Students with family income below $100,000 would be eligible. That number would increase to $110,000 next year, and $125,000 in 2019. New York has 29 four year schools and enrolls 163,000 students a year. The costs of room and board, books, fees are not included. Americans are more burdened by student loan debt than ever. Americans owe $1.4 trillion for student loan debts. There are over 44 million borrowers.
By Pat Turner
Starting a Business in New York
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