democrat bobby bliatout for congress.
Education needs to be affordable.
Our young people need to be educated. It's the best path to a good job and a better life. Because many young people understand this reality, they are taking on student loans to pay for their college education. In fact, Americans owe $1.3 trillion in student loan debt–that's trillion with a T. And it's also the second-highest level of consumer debt behind only home mortgages.
I believe that this is a major problem that needs to be addressed aggressively and right away. It's just not right that young people start their post-college lives with the pressure of so much debt.
Here a few thing we can do:
Restructure current student debt so that no one has to pay 5% of their monthly income, after taxes, to pay off their debt. So, for instance, if someone with student debt is grossing $2,500 a month then they only pay $125 a month for their loan including interest. This will actually stabilize the market, as defaults will decrease.
Allow students to pay off their debt through public service jobs like teaching in inner-city or rural schools or even serving in the domestic Peace Corps. We can work with local teacher’s union to ensure these jobs are supplemental and do not displace current teachers.
Begin to move toward low-cost to free university education by encouraging providing greater tax incentives to endowments that give to schools like money like Fresno State University and Cal State-Bakersfield.