Democratic frontrunner Hillary Clinton has unveiled that she is supporting a debt-free college as well as a proposal to eliminate the cost of college tuition as she adopts many of her contender's, Bernie Sanders, points.
As per the reports, Clinton's new proposals is a huge leap from her previous statement that she would try to make college as debt-free as possible if she takes office as she now promises that there will be debt-free college available to a significant number of the population. Accordingly, she has adopted the platform of Sanders after they had a meeting last June.
Her plan for higher education policy has been identified as New College Compact wherein eliminating tuition at in-state public university will be made but only for families who are making under $125,000. Another point in her education policy is the year-round Pell Grants, which will help students pay tuition to get credit for their internship. The fund from Pell Grants will also let students be able to afford summer school, where internships are mostly done, so as to finish school at a shorter period of time.
CNBC reported that the Vermont senator has applauded Clinton's move on Twitter. He wrote: "I applaud @HillaryClinton for the very bold initiative she has just brought forth for the financing of higher education."
The college plan will also impose a three-month moratorium concerning student loan payments. Clinton's campaign said that college is a great investment not only for students but also for the economy of the United States. However, it is expensive that holds many Americans back to prepare for their adulthood. The campaign's announcement added, "The graduating class of 2016 is slated to be the most indebted in U.S. history-and loan balances are disproportionately high for low-income students, including students of color."
It has been reported that Americans owe more than $1.3 trillion in student debt. Borrowers who are more than three months late on their student loan payments have also doubled in number in the past 12 years.
