Imagine getting a four-year degree in New Jersey for only $10,000. A group of state Assembly members are hoping to make that a reality by sponsoring legislation that encourages New Jersey's colleges and universities to offer baccalaureate degree programs that cost no more than $10,000 in tuition and fees.

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"By 2020, our U.S. economy will have a shortfall of five million college educated workers and by 2020, 65 percent of all jobs will require a bachelor's or associate's degree or some education beyond high school," said Assemblyman Troy Singleton (D-Mount Laurel), a co-sponsor of the bill. "In order to meet that demand we have to ensure that acquiring a college degree is not a luxury item."

The cost of college is a hurdle that many can't overcome and student loan debt continues to increase yearly.

The average annual cost of tuition and fees for a full-time undergraduate student enrolled in an independent institution of higher education in New Jersey is $35,084, according to the state Office of the Secretary of Higher Education. In addition, almost seven in 10 college seniors who graduated in 2013 left school with an average of $28,400 in student loan debt, an increase of 2 percent over 2012, according to the Institute for College Access and Success.

"As you know, one of the biggest problems young people are facing today and families is the rising amount of debt that students have when they finish college. So students are coming out of college with more debt than they can earn in a year, in terms of salaries. We need to address this," said Assemblywoman Mila Jasey (D-Maplewood), chairperson of the Higher Education Committee and co-sponsor of the measure.

College graduates also earn more than those that don't attend college.  Over the course of a lifetime, a person who graduates from college with a baccalaureate degree will earn $2.4 million, which on average is $1 million more than a person with only a high school diploma, according to statistics from a 2011 U.S. Census Bureau report.

Not everyone, however, believes the idea of a $10,000 degree program is good or even possible.

"All of our colleges and universities each year work to limit the cost to the students," said David Rousseau, vice president of the Association of Independent Colleges and Universities of New Jersey. "We believe it's inappropriate to suggest that these colleges could achieve the goals outlined. It's unrealistic and probably raises false hope that this could be achieved by any of the independent colleges and universities that I represent."

The measure was approved by the Assembly Higher Education Committee on March 2.


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