Addressing her promise to tackle the problem of student debt, Hillary Clinton will officially introduce the “New College Compact” campaign on Monday—an initiative that will allow students to afford in-state public institutions without having to take out a single loan and thus graduate debt-free. According to the proposal, federal grants would be offered to low-income students, states would be required to spend more on higher education, and universities would be encouraged to spend less to cut down tuition fees. The costs of the plan, which amount to $350 billion over the course of 10 years, will be financed through reducing certain tax expenditures granted to high-income taxpayers. Clinton is not the first presidential candidate to present a plan to fight student debt, which has already reached $1.2 trillion; hopefully, the plan that eventually goes forwards will make higher education more accessible for students nation-wide.
Contributor: May Huang