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2016 Postmortem
In reply to the discussion: Bernie has NO detailed plans! Grand ideas but no substance. [View all]senz
(11,945 posts)58. Bernie on Making College Tuition Free and Debt Free
Here are the six steps that Bernie will take as President to make college debt free:
MAKE TUITION FREE AT PUBLIC COLLEGES AND UNIVERSITIES.
This is not a radical idea. Last year, Germany eliminated tuition because they believed that charging students $1,300 per year was discouraging Germans from going to college. Next year, Chile will do the same. Finland, Norway, Sweden and many other countries around the world also offer free college to all of their citizens. If other countries can take this action, so can the United States of America.
In fact, its what many of our colleges and universities used to do. The University of California system offered free tuition at its schools until the 1980s. In 1965, average tuition at a four-year public university was just $243 and many of the best colleges including the City University of New York did not charge any tuition at all. The Sanders plan would make tuition free at public colleges and universities throughout the country.
STOP THE FEDERAL GOVERNMENT FROM MAKING A PROFIT ON STUDENT LOANS.
Over the next decade, it has been estimated that the federal government will make a profit of over $110 billion on student loan programs. This is morally wrong and it is bad economics. As President, Sen. Sanders will prevent the federal government from profiteering on the backs of college students and use this money instead to significantly lower student loan interest rates.
SUBSTANTIALLY CUT STUDENT LOAN INTEREST RATES.
Under the Sanders plan, the formula for setting student loan interest rates would go back to where it was in 2006. If this plan were in effect today, interest rates on undergraduate loans would drop from 4.29% to just 2.37%.
ALLOW AMERICANS TO REFINANCE STUDENT LOANS AT TODAYS LOW INTEREST RATES.
It makes no sense that you can get an auto loan today with an interest rate of 2.5%, but millions of college graduates are forced to pay interest rates of 5-7% or more for decades. Under the Sanders plan, Americans would be able to refinance their student loans at todays low interest rates.
ALLOW STUDENTS TO USE NEED-BASED FINANCIAL AID AND WORK STUDY PROGRAMS TO MAKE COLLEGE DEBT FREE.
The Sanders plan would require public colleges and universities to meet 100% of the financial needs of the lowest-income students. Low-income students would be able to use federal, state and college financial aid to cover room and board, books and living expenses. And Sanders would more than triple the federal work study program to build valuable career experience that will help them after they graduate.
FULLY PAID FOR BY IMPOSING A TAX ON WALL STREET SPECULATORS.
The cost of this plan is fully paid for by imposing a tax of a fraction of a percent on Wall Street speculators who nearly destroyed the economy seven years ago. More than 1,000 economists have endorsed a tax on Wall Street speculation and today some 40 countries throughout the world have imposed a similar tax including Britain, Germany, France, Switzerland, and China. If the taxpayers of this country could bailout Wall Street in 2008, we can make public colleges and universities tuition free and debt free throughout the country.
https://berniesanders.com/issues/its-time-to-make-college-tuition-free-and-debt-free/
MAKE TUITION FREE AT PUBLIC COLLEGES AND UNIVERSITIES.
This is not a radical idea. Last year, Germany eliminated tuition because they believed that charging students $1,300 per year was discouraging Germans from going to college. Next year, Chile will do the same. Finland, Norway, Sweden and many other countries around the world also offer free college to all of their citizens. If other countries can take this action, so can the United States of America.
In fact, its what many of our colleges and universities used to do. The University of California system offered free tuition at its schools until the 1980s. In 1965, average tuition at a four-year public university was just $243 and many of the best colleges including the City University of New York did not charge any tuition at all. The Sanders plan would make tuition free at public colleges and universities throughout the country.
STOP THE FEDERAL GOVERNMENT FROM MAKING A PROFIT ON STUDENT LOANS.
Over the next decade, it has been estimated that the federal government will make a profit of over $110 billion on student loan programs. This is morally wrong and it is bad economics. As President, Sen. Sanders will prevent the federal government from profiteering on the backs of college students and use this money instead to significantly lower student loan interest rates.
SUBSTANTIALLY CUT STUDENT LOAN INTEREST RATES.
Under the Sanders plan, the formula for setting student loan interest rates would go back to where it was in 2006. If this plan were in effect today, interest rates on undergraduate loans would drop from 4.29% to just 2.37%.
ALLOW AMERICANS TO REFINANCE STUDENT LOANS AT TODAYS LOW INTEREST RATES.
It makes no sense that you can get an auto loan today with an interest rate of 2.5%, but millions of college graduates are forced to pay interest rates of 5-7% or more for decades. Under the Sanders plan, Americans would be able to refinance their student loans at todays low interest rates.
ALLOW STUDENTS TO USE NEED-BASED FINANCIAL AID AND WORK STUDY PROGRAMS TO MAKE COLLEGE DEBT FREE.
The Sanders plan would require public colleges and universities to meet 100% of the financial needs of the lowest-income students. Low-income students would be able to use federal, state and college financial aid to cover room and board, books and living expenses. And Sanders would more than triple the federal work study program to build valuable career experience that will help them after they graduate.
FULLY PAID FOR BY IMPOSING A TAX ON WALL STREET SPECULATORS.
The cost of this plan is fully paid for by imposing a tax of a fraction of a percent on Wall Street speculators who nearly destroyed the economy seven years ago. More than 1,000 economists have endorsed a tax on Wall Street speculation and today some 40 countries throughout the world have imposed a similar tax including Britain, Germany, France, Switzerland, and China. If the taxpayers of this country could bailout Wall Street in 2008, we can make public colleges and universities tuition free and debt free throughout the country.
https://berniesanders.com/issues/its-time-to-make-college-tuition-free-and-debt-free/
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Thank YOU, Herbchestnut, for providing threads that detail Bernie's plans from his website.
hedda_foil
Nov 2015
#155
Is that suppose to mean he's done nothing for them? Congress.gov is a resource like any other.
Bubzer
Nov 2015
#128
Well, yeah but where's his bill on making flag burning a crime, huh? Some patriot he is.
Scuba
Nov 2015
#9
Sort of like if Hillary was so trusted, her supporters wouldn't need to keep claiming it to be true.
Bubzer
Nov 2015
#131
Saved the Auto Execs with a bailout while demanding extreme concessions from LABOR.
bvar22
Nov 2015
#145
No you avoided the question. Sanders voted for this because he had no alternative plan.
SunSeeker
Nov 2015
#177
30 years of no reform legislation would be damning...were it true. But its not.
Bubzer
Nov 2015
#136
Nothing to show for it? Might be true if you mean no corporate ties to show for it.
Bubzer
Nov 2015
#139
so then the smart thing to do is take him from where he's "unusually effective" and put him as
saturnsring
Nov 2015
#158
Currently government is working for the 1% and ignoring the 50 million Americans, mostly
rhett o rick
Nov 2015
#48
Way to repeat another Bernie lie--which only passes here because it's not the "racism" thing
beerandjesus
Nov 2015
#109
So, if the Republicans are against it, then don't do it, lol! Very funny, BB!
grahamhgreen
Nov 2015
#175
She only has a bunch of rhetoric. Does she support fracking or not? Depends. Does she support the
rhett o rick
Nov 2015
#49
yeah, the foot soldiers are fighting a Lernean Hydra: the moment they said Sanders
MisterP
Nov 2015
#25
And what exactly has Hillary accomplished except doing more flip flops that Mitt Romney?
Bernblu
Nov 2015
#65
Where, oh where, did I put that list of HRC's legislative accompishments? Oh wait,
KingCharlemagne
Nov 2015
#95
How many of those has he authored (not just "co-sponsored") and how many have been enacted?
George II
Nov 2015
#121
Bu...but..but... you forgot to post the sarcasm smilie. Can't tell if you're really
japple
Nov 2015
#173