New Jersey Proposes Lottery to Pay Off College Debt
Will this be a solution?
USA Today reports.
N.J. bill proposes lottery to pay off college debt
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.”