COLLEGE ACCESS FOR EVERYONE
Democrats will make college tuition tax deductible, permanently; cut student loan interest rates, and expand Pell Grants, making college education available to all.
College costs are soaring:
- Cost of attending public college has jumped by 32 percent since 2000
- Cost of attending private college has jumped by 21 percent since 2000
- The typical student borrower now graduates from college with $19,300 in debt
Stop the Republican Raid on Student Aid:
- In February, the Republican Congress enacted a $12 billion raid on Student Aid, making college even less affordable for America’s families.
- Under the GOP statute, the interest rate on new student loans is rising to 6.8 percent from 5.3 percent
- Under the GOP statute, the interest rate on new parent loans is rising to 8.5 percent from 6.1 percent.
The Democratic Plan:
- Cuts the interest rate on new student loans in half – from 6.8 percent to 3.4 percent.
- Cuts the interest rate on new parent loans in half – from 8.5 percent to 4.25 percent
- Saves the typical undergraduate student borrower, with $17,500 in debt, a total of $5,600 over the life of his or her loans.
- Expand the availability of Pell Grants.
- End the Raid on Student Aid.
Read Congressman Becerra's press releases regarding loan forgiveness for librarians.