'A clear divide exists among 2020 presidential Democrats who are rolling out plans to tackle the student debt crisis, whether tuition-free or debt-free policies are the way to win voter support.
By the numbers: Student debt in the United States has reached $1.5 trillion, and is responsible for much of millennials and generation Z's anguish.
In Congress
- Congressional committees have launched hearings to reauthorize the Higher Education Act, which looks to discuss more affordability in college costs, student loan programs and more. Sen. Brian Schatz (D-Hawaii) and Rep. Mark Pocan (D-Wisc.) reintroduced legislation to help students become debt free within 5 years of graduating.
Tuition free
These programs provide students 2 years of free tuition at participating state community colleges, associate-degree programs and vocational schools. The majority fall into the category of "last dollar" scholarships, indicating the program pays the difference in tuition after financial aid and grants have kicked in, per CNBC.
- Sen. Bernie Sanders (I-Vt.) is still running on his 2016 campaign promise to make college tuition free and debt free. In 2016, Sanders introduced a bill called the "College for All Act," making public college tuition-free to students through a partnership between the federal government.
- Former HUD Secretary Julián Castro supports tuition-free college.
- Rep. Tulsi Gabbard (D-Hawaii) wants to eliminate tuition and fees at 4-year public colleges and universities. She also supports free community college tuition for everyone.
- New-age spiritual guru Marianne Williamson supports universal pre-school and free college.
Debt free
This idea aims to cover the costs associated with attending public college without requiring students to take out loans, by establishing federal matches for state spending on higher education and using those funds to fill unmet need for people pursuing degrees
- Sen. Elizabeth Warren (D-Mass.) is running her campaign on students being debt free by using proceeds from her wealth tax. Warren is a co-sponsor for the Schatz-Pocan bill and the Sanders bill. She has sponsored and co-sponsored several others including one in 2014 that allowed federal student loan borrowers to refinance their debt at a lower interest rate.
- Sen. Kamala Harris (D-Calif.): She believes universal pre-K and college should be a "fundamental right," to be debt-free, The Atlantic reports. She is a co-sponsor for the Schatz-Pocan bill and the Sanders bill.
- Sen. Cory Booker (D-N.J.): Introduced a bill in 2018 for baby bonds, which attempted to close the racial-wealth gap in education. Booker is a co-sponsor for the Schatz-Pocan bill.
- Former Texas representative Beto O’Rourke has supported debt-free ideals. In 2018, he tweeted: "We should allow Texans who commit to working in in-demand fields and in underserved communities the chance to graduate debt free." O`Rourke co-sponsored Student Loan Affordability Act until 2015.
- Former tech executive Andrew Yang: Debt forgiveness plans and loan repayment plans, according to his campaign website.
Refinance student loans
- Sen. Amy Klobuchar (D-Minn.) rejected the idea of tuition-free college at a CNN town hall, but called for has called for free 2-year community college degrees. She offered up the idea to refinance loans and expand Pell grants.
- Former representative John Delaney has called for reforming bankruptcy laws so student loan debt can be discharged like all other debts as well as refinancing.
Mixed statements
- Sen. Kirsten Gillibrand (D-N.Y.) is a co-sponsor for the Schatz-Pocan bill and the Sanders bill. In February, she tweeted she'd "allow all students to refinance their loans at 4%" if she were elected president.'
Debt-free college: Where the 2020 presidential candidates stand
I can understand universal healthcare and the $15 minimum wage (I don't fully agree with them - but I can certainly understand the logic behind them).
But this is just bat shit nuts.
No one put a ******* gun to these students heads to go massively into debt...it was 100% their choosing. Why the 'f' do students suddenly deserve to have their tuition paid off by taxpayers? Why this generation and not previous generations? And what makes student loans more important then mortgages? Or business loans? Why have taxpayers pay off student loans but do nothing for low income people with heavy mortgages/debts or business loans (NOT that I am for paying those off either - but at least they make far more sense then just paying off student loans)? What is ******* next? Progressives want taxpayers to pay off their credit cards? Car payments? Gambling debts?
This is progressives being flat out selfish. Many progressives are under 30 with HUGE student debt. So naturally their first thought is themselves.
I will say it again - HELLO? You people voluntarily took the huge student loans. You have no one to blame for them but yourselves. They are 100% YOUR responsibility. Stop pawning your bad decisions on to the rest of America. You fucked up - you get yourselves out of it. It's called 'taking responsibility for your actions'. DUH.
Good post.
I think the winning position is to have a system like Social Security except in reverse....
If you want....you can go to school for the equivalent of 60 semester hours ( Associate's Degree) up front. This doesn't need to be at a formal college with a quad, study hall, etc... If you want to use it at UTI or University of Phoenix or at the local beauty academy...feel free. There will be a monetary value tied to it and you get that money up front to get some vocational training or have a college experience or whatever.
Then over the next 40 years of your life...you pay that back by having money taken out of your paychecks (not to exceed $100 per paycheck) plus a small percentage interest.
So if you're 18 and graduating tomorrow, you have the first 2 years (60 hours) of college/trade school paid for in advance. This includes tuition, books, fees (not housing or meals).
If you're a 26-40 y/o no-life loser doing nothing, you get 2 years (60 hours) of college/trade school paid for in advance. However, your payback is going to be accelerated since you likely won't have a 40 year work life in front of you.
If you've completed some college already, you can apply these funds to finish your studies or at least knock out a chunk of it.
If you're mid-career and are looking to make a change either to a new career or enhance your skills, you're able to use this program without the accelerated pay-back. So if you're a welder and want to learn underwater welding...you can do that and pay it back later. If you have a dead -end job in internal audit at a hospital (lol), you can perhaps take a nursing course and become more fulfilled. This would be based no your previous work history and track record...so the government isn't taking a really bad risk of you not paying off it's investment.
And for those who are late in their careers, there is an exception where studies will be either at a reduced costs or they will be tied to your SS payments thus far.
The good news is that it's something for everyone. If you want to take a course that doesn't tie directly into a career...you can but remember you're on the hook for the pay-back. If you want to take 60 hours of dodgeball...feel free...but you're on the hook for the payback. If you are using it for career advancement or technical training...you can certainly pay it back sooner and not have deductions per paycheck.
