New Jersey creates Pay It Forward task force

New Jersey will create a task force to study how to make college more affordable for the state's students under a law signed Thursday.

The commission will study a "Pay It Forward Pilot Program," in which public college and universities could waive tuition and fees in favor of taking a percentage of students' future earnings. It will also study several other ways to reduce college costs, including an accelerated program for high school students interested in pursuing a career in medicine.

New Jersey's public four year colleges rank among the most expensive in the country, according to the U.S. Department of Education rankings.

Assemblywoman Pamela Lampitt (D-Camden), one of the bill's cosponsors, said New Jersey needs to better compete with the schools in neighboring states that lure its students.

"This migration hurts our schools and it hurts us as a state since many of these students will take jobs and settle in these states," Lampitt said. "Making our schools more affordable can help us better compete, and keep students who after graduation will help contribute to our economy."

Full story: nj.com