Jan 28, 2017 11:35 AM EST
Free College Tuition: The Solution to Reduce Student Loan Debt
The global economy is a highly competitive market that we only need to make sure we have the best educated workforce. However, it is counter-productive to the welfare of our economy and our country that thousands of bright youngsters cannot afford going to college and a lot of them just leave college with unbearable debt which burdens them for years and decades, and this is this trend must come to an end.
In order to relieve students from being burdened with mountains of debt, the first step is to avoid borrowing in the first place. And according to US News, this is one of the reasons why the free-college movement sparked interest during the controversial presidential campaign. In fact, this is one issue that both Democrats and Republicans can agree on - the nation's student loan crisis. Here are some of the solutions tackled to address student loan debt.
According to Forbes, President Donald Trump offered a student loan debt repayment plan that will allow borrowers to cap their monthly student loan based on the amount of their salary. And then, after a certain period of time, the loans will be forgiven.
Democratic nominee Hillary Clinton also proposed a free college tuition plan as well as a student loan repayment and student loan forgiveness plan. She also called for student loan that will refinance 25 millions of Americans.
Even many years ago, some colleges used to provide free or lower tuition cost but this practice ceased in 1970's to 1980's. Now, there is a Campaign for Free College Tuition that will make 50 local promise-type scholarship programs available across the country. The only thing college students should keep in mind are the things that these state and municipal plans require, which is to meet the minimum required GPA and meet the attendance required.
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