SALEM, Ore. (AP) — Students are facing a rising loan burden, and Oregon’s state treasurer wants the state to be able to take on debt of its own to help them out.
Ted Wheeler proposed a little-known measure that will appear on the November ballot. The proposal, Measure 86, would amend the state constitution, creating an endowment that could be used only for student financial aid. It would also allow the state to take on debt to fill the endowment. He wants to start with $100 million.
Wheeler says the measure would provide a dedicated and growing fund to support student financial aid.
Critics question the use of debt, which traditionally is only incurred to pay for construction projects.