So ... here's an idea ...

State Senator Brian A. Joyce, a Milton Democrat, this month filed legislation that would provide any graduate of a Bay State college $10,000 for a down payment on a house or condo. Joyce hopes the payment would soften the blow from the high cost of living and might persuade some graduates to stay and raise families here.

The stipend would go to anyone who graduated from a state-accredited post secondary school, vocational-technical program, or apprentice program in the last 10 years. The catch: The recipient would have to agree to stay in Massachusetts for at least five years, or repay the money with interest. Also, the graduate's yearly salary could not exceed 135 percent of the community's median income.

The Senator wants to set aside $25 million for the plan, and adjust that total based on the level of response it gets.

I'm sure everyone and his brother has an opinion on this. Some more negative than others, for sure.

Right off the bat, I see a huge problem. If you're 22 years-old, should you even be buying a home? I'd suggest, no. I think you should rent, at least for the first year of your new job. I mean, really. Be practical.

And, face reality. Your first job might pay $30,000 or $40,000 a year (I dunno, I graduated in the '80s, and my first job paid $22,000). Will you be able to afford anything, $10,000 or no $10,000?

Perhaps a tax credit against earnings would help (but maybe not a lot), so you can keep more of your first couple years of income, or something, tax-free?

Oh, or we could just build more housing, to bring down the cost of renting and buying?

If we brainstorm, perhaps we can come up with ways to put that $25 million to better use, to keep our 20-30 year-olds here in town.

Source: A little something to stick around - By Maria Cramer, The Boston Globe