Trump Outlines College Debt Plan

Donald Trump recently outlined his plan to cut college costs and reduce the financial burden of student loans while at a rally in Ohio.

Trump wishes to allow students a stronger chance at a better life after attending secondary school and plans to do so in several steps.

In general, he plans to cut college costs and lower student loan rates.

He has a multi-step plan which he guarantees will help stimulate the economy and boost the workforce.

Donald Trump hopes to increase the amount of younger individuals in the workforce by encouraging the college path, as well as introducing job placement programs to help recent degree-earners find work.

Breitbart News reports:

“The share of 16-to-28-year-olds not in the labor force has increased to 45 percent during the Obama administration,” said Trump, who has targeted Ohio as one of his must-win states. “In a Trump Administration, we will work every day to make America Great Again for millennials.”

 

Young Americans need a fighting chance, he said.

First, the candidate claims he wishes to reduce the tax rate on student loans, capping it at 12.5%, so that individuals are not paying more than they can afford.

Breitbart News reports:

“That is why under my student loan program, we would cap repayment to an affordable portion of a borrower’s income–12.5 percent and if borrowers work hard and make their full payments for 15 years, we will let them get on with their lives,” he said.

Secondly, Donald Trump promises he will cut federal regulations, which Universities must follow in order to cut costs, and in turn will pass the savings to students.

In theory, this would reduce the price of college a significant amount.

Breitbart News reports:

“Some schools are paying more to hedge funds and private equity managers than they are spending on tuition assistance–while taxpayers are guaranteeing hundreds of billions of dollars of student loans to pay for rising tuition,” he said. “We want universities to spend their endowments on their students, not themselves.”

Finally, Trump also wishes to put a program in place that will help students find good, stable jobs once they’ve graduated so they can start supporting themselves and start a future.

Breitbart News reports:

“We also have to make sure that those who have graduated college and those who are soon to graduate can find a good job to start a good career when they do,” he said.

Though many before him have proposed plans to help lessen the financial burden of attending secondary schools, Donald Trump’s plan seems well thought out and organized, and may be one that actually proves helpful.

What are your thoughts? Do you think Trump’s plan will work to help millennials struggling with debt and help them to find work?

Leave us your thoughts in the comments section below.


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