Democratic presidental nominee’s stance on student private loans?
I was talking to a friend about my insane student private loans and how it seemed that I would’ve been wealthier had I never gone to college.
She told me that both democratic presidential nominees have make statements in regards to helping students in massive debt.
Does either Obama or Clinton have any plans on what to do to help people who are in massive student loan debt? Would it only affect future loans or would it help people who already have loans?
Directly from Obama’s site…
Create the American Opportunity Tax Credit:
Obama will make college affordable for all Americans by creating a new American Opportunity Tax Credit. This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Obama will also ensure that the tax credit is available to families at the time of enrollment by using prior year’s tax data to deliver the credit when tuition is due.
Simplify the Application Process for Financial Aid:
Obama will streamline the financial aid process by eliminating the current federal financial aid application and enabling families to apply simply by checking a box on their tax form, authorizing their tax information to be used, and eliminating the need for a separate application
