FRESNO, Calif. (KMPH) -
Heading off to college in the CSU system could get a little more expensive next year if Governor Brown's tax initiative doesn't pass.
Fresno State freshman Jasmit Mann hopes to one day become a high school counselor.
She can't imagine a 5 percent tuition increase next year, if the Governor's Proposition 30 fails come November.
Jasmit Mann says, "I'm borrowing money off my parents and financial aid covers half of my expenses so that helps." Reporter asks, "Could you handle a 5 percent increase?" Mann says, "No, I can't."
In-state undergraduates would pay an additional $150.00 per semester, bringing their annual tuition to $6,270.00.
Students are angry.
They say Governor Brown is using this scare tactic to get his initiative passed.
Devan Cruz says, "It's probably a big scare that's going to affect the outcome of the proposition."
While students are worried how they will pay for college, a push is on to get the word out about a program that can save recent graduates thousands off their student loans.
It is called the Income-Based Repayment Program.
According to the U.S. Census Bureau, some 2 to 3 million graduates actually qualify but haven't even signed up.
Experts say many don't even know about it.
A graduate must apply through the bank that has your loan.
Banks are not obligated to tell you a thing.
The Income-Based Repayment Program lets borrowers adjust their monthly payments down to 15 percent of their income and wipe out the debt completely after 15 years.
Let's say you make $60,000 a year and your student loan payments are $600 a month - or about 12 percent - you could decrease your payments to $500 a month.
Currently only some 970,000 graduates are taking advantage of the program. That's less than 3 percent of all borrowers that qualify.
So if you're a graduate with a student loan, look into the Income-Based Repayment Program.
