She Strengthens

Understanding the 2016 Presidential Candidates’ Stances on Education and Student Loan Reform

As the 2016 presidential election approaches, it’s essential to understand each candidate’s vision for education and student loan reform. With the concept of “no-debt college” gaining momentum on the campaign trail, it’s crucial to delve beyond the surface level and explore the granular details of each candidate’s plan.

The Democratic Candidates

• Hillary Clinton: Clinton aims to make in-state education more affordable through her New College Compact. Key points include:
  • Pell Grants not included in no-debt-tuition calculations
  • Free tuition for community college students
  • Students contribute through part-time work
  • Families make an affordable and realistic contribution
  • Federal government provides grants to states that commit to these goals
• Bernie Sanders: Sanders proposes the College for All Act, which includes:
  • Free tuition at public colleges and universities
  • Stopping government profits on student loans
  • Cutting student loan interest rates to 2.32%
  • Allowing Americans to refinance student loans at low-interest rates
  • Fully paying for the plan through a tax on Wall Street speculators
• Martin O’Malley: O’Malley aims to make debt-free college education a national goal within five years. His plan includes:
  • Refinancing student loans at lower rates
  • Tying minimum payments to incomes
  • Freezing public tuition rates
  • Increasing Pell Grants
  • Expanding and modernizing work-study programs

The Republican Candidates

• Donald Trump: Trump has criticized federal profits from student loans but lacks a concrete solution.
• Ted Cruz: Cruz has spoken about his own student loan debt but doesn’t have a clear plan to help future generations. He previously voted against a bill allowing millions to refinance their student loans at lower interest rates.
• Marco Rubio: Rubio stresses the importance of understanding how hard your degree will work for you in terms of salary. His plan includes:
  • Giving students reliable data on expected salaries versus debt
  • Reforming repayments based on borrower income
  • Supporting private financing options
  • Allowing up to $57,500 in student loans to be eligible for forgiveness after 20 years
• Ben Carson: Carson favors a model where schools are responsible for student loan interest, while students are responsible for the principal. He also advocates for “working your way through college” to avoid taking out loans.
• Chris Christie: Christie opposes free college tuition and debt-free college experiences. His plan includes:
  • Additional tax credits and community service options for current borrowers
  • Refocusing student assistance for those at the bottom
  • Debt relief in exchange for community service
  • Income-share agreements
  • Transparency and accountability in college costs

It’s crucial to understand each candidate’s vision for education and student loan reform to make an informed decision at the polls. As a student loan borrower, it’s essential to keep tabs on what candidates are proposing to understand how future legislation will affect you and your debt.