N.J. lawmaker proposes a lottery to pay off student loans

Comment #7

One-Day — Thu, 09 Jul 2015 01:30:39 GMT

If they pay the taxes and the investment on the tickets, yes.

Comment #6

haymaker — Tue, 07 Jul 2015 19:56:55 GMT

There's so much wrong w/ this I don't know where to begin...

How about a lottery game that pays off my mortgage and...if I win more than the mortgage payoff figure...some other player's

mortgage gets paid ?

And the tax ? as others mentioned.

Burzichelli was the one that introduced a failed bill for anonymity, he should take another stab at that.

Comment #5

Raven62 — Tue, 07 Jul 2015 19:56:24 GMT

What? Gamble Away your Student Loan Money for a Chance to Pay Off Your Student Loan, and when you lose the Student Loan won't be Paid Off and You won't have the Money to make your Student Loan Payment.

Time to Vote John Burzichelli Out of Office

Comment #4

KY Floyd — Tue, 07 Jul 2015 18:55:59 GMT

A student would not be allowed to spend more than the equivalent of 15 percent of his or her debt on the tickets.

So there'd be a limit of, say, 5 to 15 thousand dollars on how much you could gamble away on the very small chance of winning a lottery with a relatively modest prize? Plus the chance to possibly have some of the prize you've won given to other people?

25 percent of the pot would go to the company running the lottery.

Yeah, but I'm sure the state won't also be taking a si... [ More ]

Comment #3

RedStang — Tue, 07 Jul 2015 17:52:03 GMT

approached by an attorney representing people interested

Those people are probably Debt collectors and this is just a way for them to get their money instead of getting Colleges to lower their Tuition fees.

Comment #2

music* — Tue, 07 Jul 2015 17:42:05 GMT

I would vote NO if it was introduced in California. Taxes are a real game changer.

Comment #1

temposhaman — Tue, 07 Jul 2015 17:21:26 GMT

Im just wondering how they think its gonna fly... i mean make them buy more to pay off even more? lol i mean im not saying its not a good idea, but are you sure your not being to selfish?

this would be good for nonprofit..

N.J. lawmaker proposes a lottery to pay off student loans

Lottery Post — Tue, 07 Jul 2015 15:27:18 GMT

A New Jersey lawmaker says the state should try something novel to help people climb out of all that debt from their college days: set up a lottery in which the winning tickets pay off student loans.

State Assemblyman John Burzichelli (D-Gloucester) on Monday introduced legislation (A4631) that would make New Jersey the first state in the country to establish a lottery in which the winnings would go exclusively to college debt.

Any vehicle that could provide some relief it seems to me it... [ More ]