Presidential hopeful Hillary Clinton announced an education plan involving the spending of $350 billion over ten years for students to attend college without the lingering fear of debt.
According to The New York Times, her higher education plan, dubbed the New College Impact, encompasses a collage of ideas from the past, present, and future with a bipartisan perspective. Clinton’s plan demands colleges take a stand in assisting students with tuition, a cap on wealthier families’ tax deductions so they can pay for their children, a $175 million budget for grants to students, refinancing loans at lower interest rates for current debt-ridden graduates, and allowing Pell Grant recipients to spend the money on living expenses.
Clinton also has a plan for the many Americans living in debt, and for working students with families.
The NY Times reports:
Mrs. Clinton, who will officially announce the plan at a campaign event on Monday in Exeter, N.H., would also allow Americans to refinance private loans at lower interest rates; expand the AmeriCorps national service program, which provides an education benefit and was started by President Clinton, to 250,000 members from 75,000 members; and impose penalties on colleges whose graduates cannot repay their loans.
Following news of the college plan, Clinton’s campaign released a video featuring stories of young Americans and first generation college students speaking about their financial troubles.
Critics have said Clinton’s plan, which requires pledges from federal government and universities, is the most realistic out of the presidential candidates. Former Maryland Gov. Martin O’Malley and Sen. Bernie Sanders have proposed plans that require more government payouts. Sanders wants to spend $47 billion a year to end public college tuition, with an additional $23 billion coming from each state.
Many also believe the presidential candidate would not have trouble enacting the plan, since education is something all parties are interested in handling.
SOURCE: NY Times | VIDEO CREDIT: NDN