kids can ALREADY get government loans called Pell Grants and Stafford loans......in fact today the amount of outstanding school loans are greater than outstanding credit card loan debt......so what's the big monetary difference in what she's proposing.....? ...none...
the real difference.....it's called complete control of college education by the Feds...
Nonsense.
How will the feds gain complete control of education? You can take whatever you want under the plan I layed out. Superstition is a poor substitute for reasoning.
As for the differences...there are major differences.
You have to qualify for the grants by having a need for one thing; there is no qualification in what I'm proposing. That is a difference. I think your borrowing ability is tied to your family income as well.
All too often (if not exclusively) the grants and loans you describe are for students taking a minimum number of hours; no such qualification exists in what I'm proposing. The example I use is that if a trucker wants to take a course to get HAZMAT certification, there is now a pre-paid path for him or her to do that. If you're a pharmacy technician (as I am now) and would like to take courses to become IV Certified or get Compounding certs (as I do), you don't have to decide between keeping the lights on and paying tuition. That is a difference.
Instead of going through a bank and having the government back your loan, you get a voucher to take 60 hours of post high-school training with an automatic, pre-tax, pre-set deduction from your future earnings. This will also reduce your taxes since the money is removed from future paychecks. That is a difference.
Major differences and there is no "federal takeover of education" in this idea.