College students are graduating with more student loan debt than ever. Being a young college student, the fear of not making enough money to pay off my student loan debt haunts me daily. The cost of tuition and fees at public, four-year universities have skyrocketed within the past 30 years, but minimum wages have only increased by less than a dollar since 2001.
44.7 million Americans have active student loan debt. That's one out of four Americans are being overwhelmed with this debt. How can we be the land of the free when the younger generations are being enslaved with student debt?
student loan comparisonhttps://www.nitrocollege.com/research/average-stud...
Bernie Proposal
Bernie's idea may seem unrealistic, but after visiting his website I was able to get a better understanding of his plan. Not only will Bernie free millions from debt, but he also will end the racial and class disparities that are seen in higher education. His goal is to make sure everyone is capable of receiving free education, from pre-kindergarten through college no matter their race, income, or immigration status.
While in the White House, Bernie will pass the College for All Act, which will provide $48 billion per year to eliminate tuition and fees at four-year public colleges and universities, tribal colleges, community colleges, trade schools, and apprenticeship programs. He also will cancel the 1.6 trillion dollars in outstanding student debt for the 45 million borrowers.
Pell grants will be issued to low-income students to cover non-tuition fees and the cost of school. Bernie will invest in historically Black Colleges and Universities and Minority-serving institutions.
How is this possible ?
free college
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To pay for this promise to work, Bernie has proposed a plan that would require them to impose a tax of a fraction of a percent on Wall Street speculators. The speculations tax is estimated to raise 2.4 trillion dollars over the next ten years. According to Bernie Sanders's website, It works by placing a 0.5 percent tax on stock trades –50 cents on every $100 of stock– a 0.1 percent fee on bond trades, and a 0.005 percent fee on derivatives trades.
