We’re seeing new developments on the student loan front with the presidential candidates, Donald Trump and Hillary Clinton.
On Wednesday, October 12, 2016, Donald Trump made his most detailed comments on student loans yet during a speech in Ohio. “Under my student loan program, we would cap repayment for an affordable portion of a borrower’s income at 12.5%…and if borrowers work hard and make their full payments for 15 years, we’ll let them get on with their lives, they just go ahead and get on with their lives, because it’s very very hard for young people.” (begins at 1:30 mark)
Meanwhile, Hillary Clinton has outlined a detailed plan addressing the student loan issues on her website. She also has a Fact Sheet where she states, “Nobody should have to pay more than 10 percent of monthly income, and college debt should be forgiven after 20 years – and 10 years if a borrower works in the public interest.”
It looks like income based repayment and loan forgiveness are definitely hot issues for the candidates and people to consider.