海角大神

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Clinton鈥檚 new debt-free education proposal could draw Millennials

Hillary Clinton announced a change to her education policy on Wednesday that brings it closer to Bernie Sanders鈥檚 tuition-free higher education program.

By Roya Sabri, Staff

Presumed Democratic presidential nominee Hillary Clinton's campaign took a page from that of Bernie Sanders with her revised education plan, which promises free public higher education for most families.

Education was a topic of heated discussion between the former secretary of state and Vermont's Independent senator during debates earlier this year. Mrs. Clinton had previously been opposed to Senator Sanders's proposal for free tuition. The revised plan falls short of Sanders's proposal, but she is likely hoping it will help sway some of the self-described democratic socialist's supporters, especially debt-strapped Millennials, who have been reluctant to shift their support to Clinton.聽

Released聽Wednesday,聽Clinton's revised plan聽promises free tuition at in-state, four-year, public colleges and universities to families with annual incomes under $125,000. According to the campaign, that would include more than 80 percent of all US families.

The benefit would roll out slowly over time,聽beginning with families making $85,000 or less per year. That threshold would increase incrementally by $10,000 each year until 2021. Ms. Clinton added this to her previous proposal that community聽colleges provide free education for all.聽

Clinton also proposed debt reforms with changing refinancing of loans to current rates, continuing the Obama administration鈥檚 simplified income-based program, giving incentives for employers to contribute to debt payoff, and taking executive action to offer a three-month moratorium on federal student loan payments.

This plan comes after Clinton met with Sanders last month to talk about how Clinton could gain his endorsement. They left the meeting agreeing that Donald Trump must be defeated, but Sanders kept his endorsement as leverage until Clinton gains his trust. Clinton鈥檚 new higher education proposal brings her one step closer to a partnership with the senator. Sanders praised the 鈥渧ery bold initiative鈥 on Wednesday, but did not endorse Clinton.

The plan falls short of Sanders鈥 radical proposal to provide free tuition at public institutions with no income cap, one of many of Sanders's聽ideas that attracted Millennials, 71 percent of whom聽voted for Sanders in the Democratic primary, according to ABC News exit polls, while 72 percent of those 65 and older voted for Clinton.

While Clinton鈥檚 plan is 鈥減ractical and feasible,鈥 there is not 鈥渟ufficient will鈥 for it to be implemented, Beth Akers, fellow at the Brookings Institution鈥檚 Brown Center on Education Policy tells 海角大神 in a phone interview Wednesday.

For the program to be implemented, there 鈥渘eeds to be large legislation change鈥 and that 鈥渄epends on a lot of factors,鈥 said Ms. Akers.

The total cost of the program was not released by the campaign, but it claims the plan will be 鈥渇ully paid for by limiting certain tax expenditures for high-income taxpayers,鈥 and students will have to contribute earnings from 10 hours of work per week in addition to families making 鈥渁ffordable and realistic ... contributions.鈥

The plan, however, may appeal to Millennials. Particularly the moratorium on student debt, Akers said, which would give debt-holders an 鈥渁dditional three-month grace period.鈥 The Clinton campaign claims the executive action would give borrowers 鈥渁 chance to consolidate their loans, sign up for income-based repayment plans, and ... reduce their monthly interest payments and fees.鈥

During this period, borrowers would have a high-profile chance to sign up for repayment programs that the Obama administration has expanded, according to a report by Scott Jaschik for Inside Higher Ed. President Obama鈥檚 "Revised Pay as You Earn" program allows federal direct loan borrowers to cap their monthly payments at 10 percent of their discretionary income and to stop paying after 20 or 25 years. Much of Clinton鈥檚 new plan is aimed at helping those currently with debt, many of which are voting Millennials her campaign seeks to entice.