Access to quality post-secondary education is a key to the continued development of the workforce and the nation’s economy! As a nation, we need to continue to provide access to higher education for all people. I believe it is unconscionable for the US Government to be making money off of the loans it provides to our students.
I think we should continue the expansion of the Pell Grant program, along with increasing the maximum reward levels to proportionally keep pace with the rising cost of higher education is a good start.
Improvements to Student Loan Program
College education should not be free; it is something to strive for and a proud accomplishment for a student. My House plans to improve the Student Loan Program that will in turn provide incentives for students to graduate:
- Lock college loans at the current federal funds rate at date of issue.
- College loans will remain at that market rate until the student has graduated.
- Upon graduation, the interest rate for the loan will drop to 0.0%, provided the individual enrolls in, and stays current with, an automatic payment program for the loan repayment.
This approach makes education affordable, while encouraging diligent effort and program completion.