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Obama s college tuition plan to cost 60 billion over 10 years TheHill
President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.
"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.
Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities
Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.
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See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.
President Obama’s plan to offer free community college tuition now has a price tag: $60 billion over the next decade, the White House said Friday.
"That is a significant investment, but it's one the president believes is worthwhile because we need to make sure that America's young people are getting the skills they need to succeed in the 21st century economy,” White House spokesman Eric Schultz said.
Student Loan Reform in Health Bill Would Save More Than 60 Billion and Invest in Access to College mdash Center on Budget and Policy Priorities
Under the proposal, the federal government — which now pays banks generous subsidies to provide a large share of taxpayer-subsidized student loans — would instead provide all such loans directly. This change would generate more than $60 billion in savings between 2010 and 2020, according to the Congressional Budget Office (CBO), much of which would go to protecting and expanding Pell Grants to help low- and moderate-income students afford college. While critics have branded the proposed changes in student loans a “government takeover” and claimed it would cost jobs, both claims are inaccurate.
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See that? Under Bush, Republicans were paying banks 60 billion over 10 years to run the Student Loan program. For the same cost, Students would get an education without being saddled with huge debt. And what did the banks do with the money? Bought GOP politicians so they could change laws, bring down the economy and make lots of money. And this is what low IQ GOP are fighting for. Typical.