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Hillary Clinton Wants To Help Student Debtors By Taxing The Rich
By Shahien Nasiripour, Aug 10, 2015 Huffingtonpost
The Democratic presidential candidate wants state and federal governments to increase their funding for students at certain public colleges while also allowing existing borrowers to refinance their high-rate loans and enroll in plans that limit payments to 10 percent of their income. The plan, which would cost $350 billion over 10 years, needs congressional approval and support from states to be viable.
The centerpiece of Clinton's proposal, to be unveiled Monday, promises that students who commit to working at least 10 hours a week can attend college without having to take out loans for tuition. Families would still have to contribute, but less than under current guidelines. State and federal funding would make up the balance. The plan calls for the federal government to incentivize colleges to control costs and states to increase expenditures to support colleges. Students would still have to pay for their living expenses, which the College Board estimates will be about $17,410 for the typical student in the coming nine months.
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