Families with incomes under $125,000 would pay no tuition for in-state public college or universities under a new campaign proposal rolled out by Hillary Clinton Wednesday, one supported by her rival Sen. Bernie Sanders, I-Vt.
As part of a general-election pitch aimed at families facing steep college-attendance costs, Clinton also promised a three-month moratorium on student loan payments in order to allow borrowers to lower their interest payments.
“American families are drowning in debt caused by ever-rising college costs,” the presumptive Democratic nominee said in a statement sent out by her campaign.
Clinton’s plan represents a leftward tilt from the primary campaign, when she and Sanders debated whether to back free public school, which was Sanders’ position, or debt-free public school, Clinton’s stance. Back then, Clinton criticized Sanders’ populist suggestion on the grounds that it would result in subsidies for rich families.
Sanders praised Clinton’s announcement Wednesday in a conciliatory statement, saying that it would “revolutionize” higher education.
“I want to take this opportunity to applaud Secretary Clinton for the very bold initiative she has just brought forth today for the financing of higher education,” Sanders said. “This proposal combines some of the strongest ideas she fought for during the campaign with some of the principles that I fought for. The final product is a result of the work of both campaigns.”
Public schools would ultimately be free for families with incomes under $125,000 after five years under Clinton’s plan, and those earning under $85,000 would get free tuition immediately.
Clinton has already put together a platform that includes a number of measures intended to subsidize higher education, including allowing federal student borrowers to exchange higher-interest rate loans for lower ones, expanding the use of income-based repayment plans that cap borrowers’ payments as a share of income, and deferring loan payments for aspiring business owners.
The newly-proposed three-month moratorium on interest payments, which would apply to all federal loan borrowers, would be used for the Department of Education to step in to help borrowers enroll in special repayment plans or trade their loans for lower-interest rate ones.
In a fact sheet published on Clinton’s site, the campaign did not provide a cost estimate for the new proposals.
