Measure 86 aims to help more students go to college

Measure 86 was proposed by Oregon State Treasurer Ted Wheeler to expand opportunities for the Legislature to fund student financial aid and vocational job training programs in the state.

Proponents say the measure is a small but significant potential solution to the growing debt among Oregon’s young adults.

“One in every five young people in this state who apply for student aid and qualify … get anything,” Wheeler said Tuesday.

The state treasurer wants to change that.

The Oregon Student Access Commission says financial aid for Oregon students who wish to attend a university or community college is about a third of the national average.

“Unfortunately, the state of Oregon is really lagging the rest of the nation in making sure that the middle-class kids have that access to education,” Wheeler said.

So what would Measure 86 do, in basic terms?

According to Wheeler, it would expand opportunities for the Legislature to fund student financial aid and vocational job training programs.

“The bottom line is that we need a workforce in Oregon that has the education and the skills that employers want,” Wheeler said.

However, he added that the measure would not expand state funds, would not issue any bonds and would not direct the Legislature to do anything.

Instead, Wheeler said, “It allows the Legislature access to things it doesn’t already have access to.”

Things like creating an endowment that would take advantage of compound earnings, and allowing philanthropic individuals to contribute to the fund.

“It puts all of these on the table as potential options for the Legislature, but it doesn’t direct them to do anything,” Wheeler said.

And there’s no doubt as to the importance of those futures our students face.

“It’s important to the future of Oregon,” said Wheeler.

The state treasurer also said he has yet to hear a solution that won’t cost a decent chunk of money. That just goes along with the challenge of education expectations for our youth — and the price tag of going to college.

He hopes to start the fund at $100 million.