The latest bill would bring federal support to an existing network of state and local free college initiatives. States would be encouraged to “sustain and expand” these offerings, according to a bill summary. More than 360 such programs exist across the country, including 31 statewide programs, according to advocacy group College Promise.
A tax on certain Wall Street activity would help fund the expansion. The federal government would pay 75% of the cost of providing free tuition at public institutions, with states covering the remainder. Its share would grow to 90% during an economic downturn.
