Living in a country where more than 45 million citizens are plagued by student loan debt, it would be an understatement to say there must be changes. Wednesday, Democratic Presidential Candidate Hillary Clinton unveiled her plan for debt free college for all policy. This proposal also includes a plan to eliminate the cost of college tuition for most of the public. Hillary Clinton's plan will provide free in-state tuition for students from families who make $125,000 a year or less.
This proposal announcement comes on the heels of Clinton's meeting with Bernie Sanders last month where they discussed the possibility of such a plan being created. "I want to take this opportunity to applaud Secretary Clinton for the very bold initiative she has just brought forth today for the financing of higher education. This proposal combines some of the strongest ideas she fought for during the campaign with some of the principles that I fought for. The final product is a result of the work of both campaigns," Sanders said. This is one of the first examples of how the Clinton campaign is trying to win over Bernie Sanders' supporters.
Hillary Clinton is also expected to announce a proposal giving former students who are in debt a three month period to catch up on loans by offering refinancing assistance. Clinton also plans to restore year-round Pell Grants that could help students get funding for summer classes. Clinton's plan would begin with free in-state tuition for families who earn $85,000 or less a year, it would increase by $10,000 each year until 2021 when it will reach families who earn $125,000 or less.
Although Donald Trump hasn't yet released plans for erasing college debt, in a July 2015 interview with The Hill, Trump said, "That's probably one of the only things the government shouldn't make money off--I think it's terrible that one of the only profit centers we have is student loans." All eyes are now pointing at the Republician nominee as many await for him to provide his take on the student debt crisis.
Hillary Clinton's plan is expected to cost the country north of $350 billion, but many will agree that it will be money well spent by giving the future leaders of America a greater, equal chance to obtain their dreams. This is a clear attempt for Hillary Clinton to reach the younger voters who she so desperately needs to win in November, it is safe to say this is one step forward for the Clinton campaign.
Lead Image Credit: United States Mission Geneva Photostream via Flickr Creative Commons