Politics –
Hillary Creates College Tuition Plan

Hillary Clinton is tackling the rising costs of college tuition and the horrific issue of post-college student loan repayments and defaults.

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In a speech on Monday to New Hampshire voters, the Democratic presidential candidate unveiled her plan known as the “New College Compact,” a pledge to tackle the cost of college, to make low-interest grants and loans more available and to ensure the federal government “will never again profit off student loans for college students.”

“No family and no student should have to borrow to pay tuition at a public college or university,” Hillary said during remarks at Exeter High School. “And everyone who has student debt should be able to finance it at lower rates.” She added that “costs won’t be a barrier” to secondary education in a Clinton administration.

Hillary’s plan includes a vow that students will be able to attend in-state public colleges or universities “without ever having to take out a loan for tuition.” This will be made possible by incentives to states that agree to provide “no-loan tuition at four-year public colleges and universities.” Under Clinton’s plan, states that agree will win grants from the federal government.

Hillary Clinton also pledged to continue President Obama’s free tuition plan at community colleges, adding the assurance that students will “never have to pay more than 10% of their income when repaying the loan.”

“Everyone will be able to enroll in a simplified and streamlined income based repayment program so that borrowers never have to pay more than 10% of what they make,” Hillary said.

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Students have been finding themselves drowned in student loan debt after following the American dream of a college education. Unfortunately, higher learning has had a negative effect on many students, by ruining their credit score and preventing them from purchasing a car or even a home. Since bankruptcy does not wipe away student loan debt, rising interest costs have made it extremely difficult — if not impossible — for some students to manage or ever break free from their education debt.

Hillary Clinton’s plan will cost $350 billion over 10 years but will be fully paid for by limiting certain tax expenditures for high-income taxpayers.

At a stop in Iowa later this week, Hillary Clinton will offer additional proposals intended to help nontraditional students, including those who are already parents, complete their degrees. The rollout of her plan is timed perfectly to coincide with college students heading back to school, in an attempt to potentially lure the critical youth voting bloc won over by President Obama, that Hillary needs to woo as well.

Allowing students the option to attend a four-year public college without taking out loans for tuition, or the option to attend a community college tuition-free, will push states to spend more on higher education, will encourage institutions to cut costs while boosting graduation rates, and will reward innovation.

A senior Clinton campaign official has called her plan a “bold transformation of how we would do higher education financing in our country.”

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Hillary Clinton’s new college tuition and student loan plan.