The New York Times reports Hillary Clinton will unveil a $350 billion student debt reform plan that aims to make college accessible to Americans without loans.
“The Clinton proposals might fare better than those offered by her two main opponents for the Democratic nomination, Senator Bernie Sanders of Vermont and former Gov. Martin O’Malley of Maryland, because unlike them, she is not relying mostly on the government to deal with student debt. Colleges would have to hold down costs and show improvements on graduation rates, for instance. Mr. Sanders has proposed spending about $47 billion a year to end public college tuition, with another $23 billion a year coming from states; Mr. O’Malley has proposed his own debt-free plan, though a campaign spokeswoman said there was no cost estimate yet.”
MSNBC: “”By closing undisclosed tax loopholes on the wealthy, Clinton plans to raise $350 million over 10 years to invest in higher education. Of that, more than half would be used for grants to states, public universities, and non-profit colleges that keep costs low for students and meet several other requirements. Another third of the money would go towards debt relief for students. Clinton’s plan would allow every American who owes money to the government to refinance their loans at today’s historically low interest rate. And she’d cut future borrowing costs by preventing the government from making a profit on loans to students.”