On Thursday, the 10 Americans vying for the Democratic nomination for President of the United States will take to the debate stage to defend their stances and critique their opponents’. Held at Texas Southern University, a Historically Black College and University (HBCU) in Houston, the debate will likely include discussion of higher education costs.
The issue came up at the two previous debates and every candidate has either spoken on the subject or outlined their plan for it on their campaign website. Proposals have differed by candidate but most included some sort of student debt reform or forgiveness and measures to make college more affordable to all or some people.
Former Vice President Joe Biden
Student Debt:
Lower the monthly payment amount for those with income-driven repayment plans
College Affordability:
Two years of free community collegeInvest in vocational training and partnerships between high schools, community colleges and employers. Allow students to earn an industry credential upon high school graduationAllow Pell Grants to be used for dual enrollment programs, allowing students to earn college credits or a credential before graduating high school
Learn more here.
Senator Bernie Sanders
Student Debt:
Cancel current student loan debtHeavily reduce future student loan interest rates
College Affordability:
Tuition-free public colleges, universities and trade schoolsFully fund HBCUs
Learn more here.
Senator Elizabeth Warren
Student Debt:
Cancel $50,000 in student loan debt for those with household incomes under $100,000Cancel student loan debt on a sliding scale for those with income between $100,000 and $250,000
College Affordability:
Tuition and fee-free two-year and four-year public collegeInvest $100 billion over 10 years for Pell GrantsExpand Pell Grant eligibility
Learn more here.
Senator Kamala Harris
Student Debt:
Allow current debt holders to refinance high-interest loans to lower ratesExpand Income-Based Repayment
College Affordability:
Make community college freeMake four-year public college debt-free
Learn more here.
South Bend, Indiana, Mayor Pete Buttigieg
Student Debt:
Cancel student debt for borrowers in low-quality, for-profit programs
College Affordability:
Make public college tuition affordable for allMake public college debt-free for lower-income familiesIncrease Pell GrantsInvest $25 billion in HBCUs and Minority-Serving Institutions (MSI)
Learn more here.
Senator Cory Booker
Student Debt:
Reform and simplify how students apply for federal financial aid
College Affordability:
Make community college and vocational training tuition-freeEstablish path to debt-free collegeInvest in HBCUs
Learn more here.
Former Representative Beto O’Rourke
Student Debt:
Allow borrowers with high-interest rates to refinance at lower federal interest ratesAccelerate student loan forgiveness for educatorsForgive student loans for educators who have spent five years in a public schoolAllow public service workers to have 10 percent of their debt forgiven for each year served
College Affordability:
Make community college freeMake first two years of tuition at state institution or technical college freeSupport making attendance debt-free for low-income and middle-income studentsIncrease support for HBCUs and MSIs
Learn more here.
Entrepreneur Andrew Yang
Student Debt:
Explore blanket partial reduction for school loan principalPropose plan for federal government to buy student loan debt allowing, students to opt-in to repayment plan by pledging 10 percent of salary for 10-year periodInitiate an income-based payment program instead of fixed amountAllow student loan debt to be discharged through bankruptcy
College Affordability:
Stipulate that universities receiving public funding cannot increase costs by more than the rate of annual median wage growth the year beforeWork to fund community colleges to a point where they can provide free or drastically reduced tuition
Learn more here and here.
Senator Amy Klobuchar
Student Debt:
Allow borrowers to refinance student loans at lower interest ratesForgive student loans for in-demand occupations
College Affordability:
Tuition-free one and two-year community college degrees and technical certificationsExpand Pell Grants
Learn more here.
Former Secretary of Housing and Urban Development Julián Castro
Student Debt:
For graduates earning less than 250 percent of the federal poverty line: Cap loan payments at $0 with no interest accrual on unpaid interest for three yearsFor graduates earning at least 250 percent of the federal poverty line: Cap payments at 10 percent of qualified incomeNon-taxable forgiveness for the remaining amount after 240 monthly paymentsCap interest accumulation at 50 percent of the lifetime increase of the loanAllow borrowers to discharge or structure payment plans through bankruptcyReform the Public Service Loan Forgiveness program
College Affordability:
Make public colleges, universities, community colleges and technical and vocational schools tuition-freeExpand Pell Grant maximum to $10,000Invest $3 billion per year in HBCUs and MSIs
Learn more here.
