Posted on 08/11/2015 10:05:03 AM PDT by SeekAndFind
Perhaps Hillary Clinton has a different definition of “affordable” than most of us. A plan that spends $350 billion can be defined as many things, but affordable is not on that list. Still, Hillary’s plan raises the stakes among a demographic that Democrats cannot afford to lose:
Hillary Rodham Clinton will announce a $350 billion plan Monday to make college affordable and relieve the burden of student debt for millions of Americans, drawing on popular tenets of the progressive wing of the Democratic Party. …
At the heart of the plan, dubbed the New College Compact, is an incentive program that would provide money to states that guarantee “no-loan” tuition at four-year public universities and community colleges. States that enroll a high number of low- and middle-income students would receive more money, as would those that work with schools to reduce living expenses. Because Pell grants, a form of federal aid for students from families making less than $60,000, are not included in the no-debt calculation, Clinton anticipates lower income students could use that money to cover books, as well as room and board.
In other words, it’s a big giveaway to the millennials, which are the voters Democrats can’t afford to have sitting on the sidelines in November 2016. Ever since the government took over the student loan industry a few years ago under Barack Obama, those burdened with student loans have wanted a debt-forgiveness plan that would free them from the yoke of astronomical debt, largely created by the bubble that government inflated in the first place. They got student loans through taxpayer-backed federal guarantees, and now they want to default on those loans and have taxpayers pick up the tab for their tuition, too.
Hillary proposes that taxpayers freeze capital to pay for tuition, room, and board for college students in the future. The problem with that plan is that even without interest, those students will face large debt loads, as they do now. Meanwhile, taxpayers in the states will front that cash with federal guarantees. What happens when those students can’t or won’t pay those loans back? It will require a massive bailout.
And guess who picks up the tab for making college affordable?
Although Clinton doesn’t mention the word “free” in her proposal, the basic foundation is the same as legislation Sanders introduced in May that would eliminate tuition at four-year public colleges through federal investment. But instead of taxing Wall Street transactions as Sanders has proposed, Clinton would close tax loopholes to pay for her plan.
“Closing loopholes” means tax hikes. One way or another, taxpayers who have been backing these student loans for decades while government subsidies stoked demand and sent tuition prices skyrocketing will pay through the nose for “affordability.” It’s yet another government-induced price spiral, not altogether unlike the Affordable Care Act, which has proven to be anything but — which also relies on massive taxpayer subsidies, and which will also require massive taxpayer bailouts in the end.
One might wonder why, when we borrow 40% of the money the federal government spends, that we’re discussing a $350 billion plan at all for anything except defense. But if the government wants to spend money on education, perhaps a better target would be primary education, and a better plan would be school choice to better prepare students for higher education down the road. Perhaps we can teach them the real definition of affordable somewhere along the way, too.
After all, it worked for her. \sarc
And then she will wipe her butt and then take a dump.
The only way government can make anything free is by either taking the cost from the tax payers or making the people who deliver the service, slaves to the state.
How come she's expected to capitalize every underfunded student in America, twenty years later!
Big change, huh!
How is pumpin pig hillary planning on funding this???
That’s only $1000 per every man, woman, and child in the USA!
A bargain.
It is the worst kind of policy.
And the millennials will endorse it 100%
And we can drop that per person cost by letting even more people in! </s
REALITY CHECK
THE CLINTON MO: A DASH OF DO-GOODISM AS THE CLINTON FOUNDATION LIES IN WAIT TO CASH IN--now let us count the ways the avaricious Clintons will cash in on the $350 billion.
EXHIBIT ONE--BILL CLINTON BAGGED $16 MILLION FROM EDUCATION COMPANY THAT RECEIVED MILLIONS FROM HILLARY’S STATE DEPT.
Breibart ^ | August 5, 2015 | Peter Schweitzer / FR Posted by lbryce
Newly released financial disclosures reveal Bill Clinton received $16.46 million in payments from a George Soros-backed for- profit education company, as Hillary Clinton’s State Department funneled tens of millions of dollars to a group run by the company’s chairman.
With $4 billion in annual revenue, Laureate Education is America’s largest for-profit college company. From 2010 until just days before the 2015 release of the blockbuster expose, Clinton Cash, Bill Clinton served as Laureate’s “honorary chancellor.” Bill abruptly resigned when the Clinton-Laureate connection was exposed in the book "Clinton Cash."
Laureate’s chairman and longtime Clinton crony, Douglas Becker, is also the chairman of a nonprofit sister organization...the International Youth Foundation (IYF) w/ offices close by Laureate’s in "peaceful, thriving" Baltimore.
NOTE WELL Shortly after Laureate made Bill Clinton its honorary chancellor in April 2010, Hillary Clinton made Laureate part of her State Department Global Partnership. IYF received USAID funds before Hillary’s tenure at the State Dept. But the tax dollar grants the education group received exploded after Bill Clinton was put on the Laureate payroll. (Excerpt) Read more at breitbart.com ...
EXHIBIT TWO--One Bloomberg report showed how tax dollars moved from the State Department to an education entity and back into the Clintons' pockets.
<><> in 2009, the year before Bill Clinton joined Laureate, the nonprofit received 11 grants worth $9 million from the State Department or the affiliated USAID.
<><> In 2010, the group received 14 grants worth $15.1 million.
<><> In 2011, 13 grants added up to $14.6 million.
<><> The following year, those numbers jumped: IYF received 21 grants worth $25.5 million, including a direct grant from the State Department.
Laureate has declined to say how much it has paid ex-president Clinton. Hillary Clinton’s financial disclosure forms in 2012 revealed only that her husband received nonemployee compensation of more than $1,000 from the company that year. The Clinton Foundation’s donor disclosures showed that Laureate cumulatively gave between $1 million and $5 million through 2014.
===================================================
In his blockbuster expose, Peter Schweizer noted that during the period his wife was secretary of state from 2009-2013, Bill Clinton spoke at Laureate campuses in Honduras, Mexico City, Germany, Spain, Turkey, Malaysia, Brazil, Peru, and the United States....netting him millions.
Schweizer famously dubbed the Clinton patented MO of do-good government service intertwined w/ private remuneration the “Clinton blur.”
=================================================
REFERENCE International Youth Foundation (IYF)
32 South Street, Baltimore, MD 21202, USA
The International Youth Foundation (IYF) prepares young people to be healthy, productive, and engaged citizens. We are passionate in our belief that educated, employed, and engaged young people possess the power to solve the world’s toughest problems. Every young person, therefore deserves the opportunity to realize his or her full potential. Our programs are catalysts for change that help youth learn, work, and lead.
More at http://www.iyfnet.org/iyf-programs
Hillary is already so desperate that she is trying to buy votes : )
Well, that's what progressive socialists do, they buy votes and enlarge government programs with other peoples money.
Why not impose financial restricts and regulations to reduce college costs like you do with businesses?
Oh yeah. Because they’re institutions of indoctrination for the New World Government Church System.
Another means tested nightmare from the left.
It is not clear how existing borrowers are going to be helped.
Tuition free college will attract the brightest poor, usually Asian. Then we need another program (quotas) to make sure AAs are represented. College will be used as a work delaying tactic and many workers saddled with debt they never should have.
Paul will vote for Hillary, Peter will not.
Obamacare is the model for Hillary’s proposals on education
A vast new entitlement for piss-poor education, to be paid for by a raft of taxes on the middle class. She will get buy in from the expanding ranks of the free-shit army, while leftist college administrators will be co-opted, just like health insurance companies were, by promises of insider rule-making and Fed.gov money.
Just like Obamacare, you will see the Dept of Education issuing 1000 new rules and regulations about “higher education.” You will start to see the accelerated decline of most private universities as their costs will continue to rise and they won’t be able to compete with subsidies.
Sorry Granny but the kids don’t want you any more than the rest of us.
How about affordable governance?
What say you, Craggy Cankles?
Subsidizing already-bloated academia is lunacy. Let the market work in private universities: declining enrollment (less demand) will cause colleges to lower tuition, by (1) reducing oversupply (gender and ethnic studies, etc.), (2) cutting the many nonessential administrators, (3) reducing faculty levels by requiring professors to get back into the classroom, and (4) increasing online matriculation. Let taxpayers avoid Hillary’s idiotic program and instead save tax dollars by emulating what Scott Walker began with Wisconsin’s public colleges.
Actually, this is a great idea! 350B / 300M means each person owes about $1150. So next tax season, every single person gets a surcharge of $1150, and then everyone gets free college! WOOHOO!!!!
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