Tuesday

Daddy Issues - College Affordability





The third year of the 2016 presidential election cycle is finally upon us. Until election day, I will post the official statements and quotes on different issues that may concern parents from the current candidates.

As today is Super Tuesday when 12 states and one territory will vote in primaries It will start the whittling down process of the presidential candidates down to two. This installment of Daddy Issues is dealing with College Affordability.

THE FACTS:
$9,410

According to the College Board, the average cost of tuition and fees for the 2015–2016 school year was $32,405 at private colleges, $9,410 for state residents at public colleges, and $23,893 for out-of-state residents attending public universities.

College graduates from the class of 2014 owe an average of nearly $29,000 in student loan debt.


WHAT DO THEY SAY:

  • “A college degree today…is the equivalent of what a high school degree was 50 years ago. And what we said 50 years ago and a hundred years ago is that every kid in this country should be able to get a high school education regardless of the income of their family. I think we have to say that is true for everybody going to college.” – Bernie Sanders 

  • “The hardest thing about going to college should not be paying for it. So then we have to make it more affordable. How do we make it more affordable? My plan would enable anyone to go to a public college or university tuition free. You would not have to borrow money for tuition. But I do believe — and maybe it’s because I worked when I went through college; I worked when I went through law school — I think it’s important for everybody to have some part of getting this accomplished.” – Hillary Clinton

  • “Well, first of all, in Ohio we’re changing the whole system. Universities will not get paid one dime unless the student graduates or — graduates or completes a course. Secondly, you can be in high school and complete almost an entire first year before you go to college and get credit to do that. And, of course, in addition to that, we are working now to go after the cost drivers in our universities.” – John Kasich 

  • Private investors would pay for a student’s education in return for a claim on a chunk of his future earnings. Just as dividends accruing to a shareholder depend on a firm’s profits, so a student’s subsequent payments to the investor would rise and fall with his income. Equity financing would lead to more informed choices because investors would be less willing to fund courses and colleges that offer low returns. – Marco Rubio

  • "You graduate from college and can't get a job. You're in real trouble. I get asked all the time about student loans by students with debt up to here, and I tell them it's all about the jobs. You have to get a job." -  Donald Trump 

  • Public universities should have to pay the interest on student loans, leaving students responsible only for the principal. He said this would motivate colleges to keep tuition rates low. – Ben Carson

  • "If you're a young person right now, you come out of school, you got student loans up to your eyeballs, you're struggling, you don't know if you're going to get a job." - Ted Cruz

FYI - Senator Cruz blocked legislation that would have allowed more than 25 million Americans to refinance their student loans at lower interest rates.


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