Democratic presidential candidate Hillary Clinton will propose a more affordable college plan on Monday. The $350 billion proposal to be announced in New Hampshire will allow students to have access to tuition grants, have lower interest rates on their loans, repayment plans based on their incomes and police predatory lenders, Reuters reported.
Clinton's briefing documents show that taking part in the "New College Compact" will begin from students, to their families, to the universities they attend, state governments - up to the federal government - for the proposal to work and not let students sink under a pile of college debt.
Clinton's proposal is intended to make sure that students can enroll in an in-state public university without having to file for a loan. Those states that will allow more budget for higher education would be entitled to federal grants to minimize the difference between what families can truly afford and those who can pay full tuition, according to the Los Angeles Times.
These families will have to meet a "realistic contribution" for the tuition cost. In return, the students will have to work 10 hours a week instead of having loans. The will be allowed to have Pell grants for their board expenses. There is another option for students to choose public service by joining AmeriCorps.
One of 2016 election's most highlighted issues is the affordability of college education with candidates from other states being questioned on how to resolve this issue. Clinton's plan will try to fulfill the demands of progressives who have been waiting for this for months. The proposal is similar to the one proposed by Maryland governor Martin O'Malley early this year, Time reported.
Clinton's plan would have an estimated cost of $350 billion for a decade that she plans to pay using tax inadequacies by the wealthiest people of the United States.
