Bernie Sanders on Student Loan Debt

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Serving in Congress since 1990, Bernie Sanders has worked tirelessly to improve the lives of all Americans through various means, including financial assistance initiatives for vulnerable populations. Sanders has been on a number of committees that show his dedication to the issues, including Veterans’ Affairs, the Senate Budget Committee, Environment and Public Works, Energy and Natural Resources, as well as the Health, Education, Labor and Pensions Committee.

In Congress, Bernie Sanders has pushed for financial assistance for many Americans, including college students. There is a student debt crisis in this country with many students taking out loans they will struggle to pay back, and Sanders wants to help alleviate that burden. He has proposed several changes to the way the government handles student debt, including an Act to make college tuition free, as well as supporting the refinancing of student loans through the government (keep in mind this is different from student loan refinancing offered by private banks and lenders).

Let’s explore some of the ways Bernie Sanders wants to help college students pay for school.

The College for All Act

The main thrust of Bernie Sanders’ student debt plan is to promote more affordable higher education for Americans through the proposed College for All Act. This proposed act would use Robin Hood taxes from certain Wall Street transactions to provide funds for various programs designed to lower student debt. The Act attacks student debt by reducing tuition on one end and restructuring the federal student assistance programs on the other. The proposed CAA includes provisions for:

• The federal government paying 67 percent of state college tuition with states themselves responsible for the remaining 33 percent
• ​Reforming student loans by establishing low interest rates on new loans and allowing existing loans to be refinanced under new rates
• ​Expand the existing work-study program to allow students to work at their universities to pay off some of their tuition, reducing the need for loans
• Simplify the application process for federal student aid to make college more accessible
•  thttps://www.cnn.com/2019/06/23/politics/bernie-sanders-student-loan-debt-cancellation/index.htmlo more Americans.