Earlier this month we explained that there is no such thing as “free” community college and that it was the middle class which would likely foot the bill for any “free” tuition.
Looks like we were right.
Obama previewed his plan for “free” community college for students seeking associate’s degrees a couple of weeks ago. The administration has put a price tag of $60 billion over 10 years for it (which means it’s likely to be much higher). Part of how Obama plans to pay for it is to tax the special saving funds, called 529 plans, that people can use to gather money to pay for their children (or themselves) to go to college.