Posted on 08/10/2015 11:27:27 AM PDT by SeekAndFind
Hillary Clinton on Monday rolled out a sweeping higher education plan — a $350 billion proposal that would help millions pay for college and reduce interest rates for people with student loans.
The plan, which would change the way a large swath of Americans pay for college, borrows ideas from the left and the right and even expands a program enacted by her husband. It includes ideas already being discussed in Congress and for which groundwork has been laid by the Obama administration. The proposal, dubbed the New College Compact, is unlikely to win over many in the GOP because the $350 billion over 10 years would come from cutting tax deductions for the wealthiest Americans.
Clinton will discuss the plan, a litmus test of sorts for progressives, at campaign stops Monday and Tuesday in New Hampshire. And at a yet-to-be-announced stop later in the week, Clinton will offer additional proposals intended to help nontraditional students — such as those who are already parents — complete their degrees, the campaign said. And the plan’s rollout is timed to coincide with college students heading back to school, potentially luring a voting bloc critical for President Barack Obama that Clinton needs to court as well.
A senior campaign official called the combination of ideas and the intense emphasis on the issue of paying for college a “bold transformation of how we would do higher education financing in our country.”
The compact’s base-line goals are to allow students to attend a four-year public college without taking out loans for tuitionor attend a community college tuition-free, push states to spend more on higher education, encourage institutions to cut costs while boosting graduation rates, and reward innovation.
(Excerpt) Read more at politico.com ...
Just buying the youth vote.
Isn't she clever?
SOME DETAILS OF HER PLAN:
* Those currently repaying loans would be able to refinance their outstanding debt at lower rates, a change Clinton’s aides say will save an average of $2,000 for 25 million borrowers over the life of the loan — an amount that equal to just about $17 month over a ten year repayment period.
* Expand income-based repayment programs, allowing every student borrower to enroll in a plan that would cap their payments at 10 percent of their income with remaining debt forgiven after 20 years.
* Private universities with “modest endowments” that serve a higher percentage of low-income students, including historically black colleges, would also receive federal funds to help lower the costs of attendance and improve graduation rates.
* The cost of Clinton’s plan would be offset by capping itemized tax deductions for wealthy families at 28 percent, like those taken by high-income taxpayers for charitable contributions and mortgage interest. That proposal, which has long been included in President Barack Obama’s annual budget, would raise more than $600 billion in the next decade, according to the Treasury Department.
Here’s a better plan to lower student loan debt:
1) Pick a university that is affordable.
2) Save money by living at home and commuting to school.
3) Work your way through college.
4) Keep borrowing to a minimum.
I know. I did it.
A mere $350 Billion bribe to students is not too much of Other People’s Money to get them to vote for Hillary.
I just felt a pang in my wallet, like a disturbance in The Force.
Would like Trump to weigh in on this.
So did I, and it works every time it’s tried.
When does this craziness stop?
I am old enough to remember when $350 Billion was the entire defense budget
I already know how to go to college for free:
1. Serve in the military.
2. Qualify for an honorable discharge.
3. Attend a college that accepts the GI Bill.
Hmmm, only about another $2,600 per (actual) taxpayer in new Federal debt, naturally with nearly all of that being paid by the top 20% of taxpayers, you know, those evil “rich ones”. I’m sure they can afford another paltry $13,000 in additional taxes. That’s actually pretty cheap to buy the 40,000,000 votes of those with student loans,namely about $8,800 per vote. Especially since not one cent is Hillary’s money.
At least for a few months until the tax accountants of the wealthiest Americans figure out tax shelters to avoid paying the $350 million over 10 years, and then it will be the few remaining middle class taxpayers who will take it in the shorts.
If there were justice served in U.S. courts, HiLIARy would have finished up being maggot food in ten years.
Exactly. Community college works just as well as a 4-year college.
However, political reality is that some bailout is inevitable. A partial bailout in return for getting the government out of the loan business completely would be a bargain.
Logical Seven Point solution to the student loan crisis:
Yes, the taxpayer takes a 30% hit up front to liquidate this crisis, but that is far better than continuing to grow this monster.
“A mere $350 Billion bribe to students is not too much of Other People’s Money to get them to vote for Hillary.”
And that’s the long and short of it.
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