This is How Much Money You Could Save With Hillary Clinton's New College Plan
Hillary Clinton has made a bold, Bernie Sanders-like promise when it comes to college tuition. On Wednesday, her Twitter account posted this exciting message for soon-to-be college students who would study at universities during her tenure in the White House.
Her intent is pretty straight-forward. Clinton's “New College Compact” would exempt families making up to $85,000 from paying college tuition at public and state universities.
Each year, the limit for family income would increase by $10,000, ensuring by 2021 that families who make up to $125,000 would not have to pay for their children's college tuition.
But new students won't be the only ones who can benefit from Clinton's policies.
Clinton is also proposing a three-month moratorium of loan repayment for former students who incurred debt via education-related loans, the Washington Post reports. According to the Post, the purpose of the moratorium is to allow borrowers to renegotiate their loan agreements and interest rates.
I want everyone to be able to refinance your student loans so you never have to pay more than you can afford and for people who go into public service, and I include teaching because it is the first and primary public service. Any remaining debt after you refinance will be forgiven after 10 years.
The presumptive Democratic nominee's policies could prove invaluable for future college students, saving each of them, in theory, at least, $30,000 — the average amount of debt college graduates leave school with. That will never be a bad thing, especially when you consider all the better ways one could spend that amount of money.
How likely Clinton's plan is to ever come close to actual fruition remains to be seen, but if it does, there are definitely going to be some happy parents.
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