Clinton’s plan will juice the economy
America’s student debt crisis and spiraling college costs are stifling innovation and opportunity, making inaction on college affordability not only costly but also reckless.
If our country is to thrive and if Americans are to be equipped with the tools needed to compete in a global economy, a high-quality higher education must be accessible without the burden of debt or financial hardship. Hillary Clinton’s plan will jump-start our economy by immediately assisting borrowers struggling with student debt, while also taking steps to allow the next generation of students to graduate debt-free.
A generation ago, higher education was a public good. But decades of state disinvestment has rendered college an exclusive commodity for the privileged few. Clinton’s plan will turn the tide on the disinvestment that forced college costs to skyrocket and the student debt crisis to explode.
Not only will her plan make public colleges and universities tuition-free for the majority of American families, it also includes provisions that will help families cover all the costs of attending college. It’s heartening that her plan acknowledges that tuition-free college is not enough, and it includes provisions such as year-round Pell Grants and on-campus child care that will provide access to college and the necessary support for low- and middle-income students.
Today, young people struggling with student debt are delaying life decisions, aren’t buying homes, aren’t starting businesses. Clinton’s proposal would hit the pause button on student loan repayment and give borrowers time to navigate the maze of repayment options, too many of which are unnecessarily complicated by loan servicers acting more like loan sharks than loan counselors.
By helping young people get control of their debt, Clinton’s plan will put money back into communities, not into interest payments and fees for lenders.
Student debt in America is a leaden weight on our economy; having reached $1.3 trillion, student debt tops both credit card and auto loan debt.
Clinton’s higher education plan is essential to move our economy forward.