Election 2020 Student loan debt ideas aplenty but changes unlikely Billionaire technology investor Robert F.
Smith"s surprise announcement at this year"s Morehouse College commencement ceremony that has more people talking about a long standing issue in higher education.
Student loan debt dollar 1.
5 trillion and counting is out of control.
So what"s the solution? Some Democratic presidential candidates, Vermont U.
Bernie Sanders being the latest last week, have offered ideas.
So, too, has the White House.
Even if a Democrat wins the White House next year and the party gains control of the U.
Senate, the plans may have difficulty passing because of questions within the party about how to pay for the initiatives.
"There"s not broad based support among the Democratic Party to support these proposals," said Donald E.
Heller, who teaches education policy at the University of San Francisco and is the school"s provost and vice president of academic affairs.
Here"s a breakdown of some specific plans, including those from the Trump administration: He wants to pay for it with a 0.
5 percent tax on stock trades, a 0.
1 percent fee on bond trades, and a 0.
005 percent fee on derivative trades.
The loan repayment would be capped at 10 percent once the borrower meets that income threshold.
Castro also proposes expanding maximum Pell grants from the current dollar 6,195 a year to dollar 10,000.
He would pay for this with a new, unspecified tax plan.
Heller, the University of San Francisco educator, believes raising the maximum Pell grant to dollar 10,000 is one approach that could help students from lower income families who typically struggle more with paying for college.
A bill introduced in the U.
Senate last year proposed raising the maximum Pell grant but it failed.
Change takes time in Washington.
Another bill aimed at reducing student loan debt was introduced last year with 32 House sponsors.
This year, it had 40 sponsors.
Only 180 votes to go.