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REALITY CHECK: Donald Trump’s and Mike Pence’s Student Loan Plan Benefits Big Banks at the Expense of Students and their Families

WASHINGTON - October 04, 2016 -

“Hillary Clinton and Tim Kaine understand what all educators understand: Debt-free college education is key to America’s future. Whether it’s their plan for free tuition or refinancing student loans at current rates, Hillary and Tim will work to provide affordable higher education to all Americans. Donald Trump and Mike Pence want to privatize student loans, which would benefit big banks while putting students’ financial futures at risk. Education isn’t about big banks’ bottom line; it’s about expanding economic opportunity and building a strong economy. Clearly, Mr. Trump and Mr. Pence missed that day in class.” – Jennifer Proffitt, College Professor, Tallahassee, FL


  • Hillary Clinton’s plan matches what public educators already know: That higher education is key to lifting up families and enhancing people’s quality of life.
  • Hillary Clinton believes America should “make debt-free college available to everyone (and) liberate the millions of Americans who already have student debt.”
  • Hillary Clinton’s plan is comprehensive and nuanced: By 2021, families with income up to $125,000 will pay no tuition at in-state four-year public college and universities. Community colleges will be free. Some 25 million people who have borrowed money for college will be allowed to refinance loans at current rates. And Hillary’s plan will crack down on predatory lenders and predatory schools – like Trump University.
  • Donald Trump’s stance on student loans “could hurt poor students.” Trump plans to remove the government’s role from the student loan system and instead have private, for-profit banks lend money to college students. In typical Trump fashion, his new stance is a 180-degree flip from his stance as recently as 2015, when he said a government program is the “only way” to help poor students.

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