Author Topic: New Jersey proposes lottery for college students who have student loan debt....  (Read 1620 times)

clarkevii

  • Stubble
  • **
  • Posts: 224
  • Age: 39
  • Location: Dallas TX
This has to be one of the dumbest / strangest pieces of legislation that I've seen BUT take in mind it is New Jersey afterall.

New Jersey could become the first state in the country to create a ‘golden ticket’ for student loan debt.

If N.J. State Assemblyman John J. Burzichelli is successful in passing his sponsored bill, a new lottery would be created to help students rid themselves of college debt — one by one.

The idea was put into action after Burzichelli was approached with the plan by local business leaders.

“They looked at N.J. and thought it would be a market where the game could work,” Burzichelli says. “I’m not suggesting that the idea of a lottery fixes the larger problem, but it could be a novel way to bring some relief.”

The legislation was introduced on June 29 and “would provide a market-based solution for rising college expenses and burdensome student loans.”

Current students and alumni would be eligible to participate, but each person must have their student loan balance authenticated prior to the purchase of the lottery ticket.

Read more:
http://college.usatoday.com/2015/07/16/jersey-student-loan-debt-lottery/

slugline

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Location: Houston, TX USA
When did The Onion take over USA Today?

forummm

  • Walrus Stache
  • *******
  • Posts: 7396
  • Senior Mustachian
That's so crazy. And doesn't help people overall. They shouldn't be gambling away money trying to win the lottery. They should just put it towards their loans.

Davids

  • Pencil Stache
  • ****
  • Posts: 973
  • Location: Somewhere in the USA.
I say let it pass. If anyone is dumb enough to participate well that is their fault.

slugline

  • Handlebar Stache
  • *****
  • Posts: 1171
  • Location: Houston, TX USA
The part where 25% goes to overhead is just rubbing salt in the wound. If you simply must try this bad idea of a debt lottery, just get the alumni associations host a raffle for their members. I bet they could do it for less and transmit a higher percentage of the pool towards the winners.

I'm a red panda

  • Walrus Stache
  • *******
  • Posts: 8011
  • Location: United States
Why not just play the regular lottery?


(Our local university did a thing where if you bought atudent season tickets to football games you were entered to have a year of tuition paid. Then they found out that was illegal, so they had to open it to all students.  The promotion obviously didn't continue after 1 year.)