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Clinton’s College Plan Will Costs Hundreds Of Billions

- October 11, 2015

Clinton’s College Plan Cost Will Be A Staggering $350 Billion Over 10 Years. “Clinton's New College Compact plan costs in the range of $350 billion over 10 years and will be fully paid for by closing tax loopholes and expenditures for the most fortunate.” (Press Release, “Hillary Clinton’s Promise On Student Debt Relief,” The Briefing, 8/10/15)

The New York Fed Recently Released A Study Detailing How Increases In Tuition Are Tied To Increases In Student Loan Availability. “When students fund their education through loans, changes in student borrowing and tuition are interlinked. Higher tuition costs raise loan demand, but loan supply also affects equilibrium tuition costs—for example, by relaxing students’ funding constraints.” (David Lucca, Taylor Nadauld, and Karen Shen, “Credit Supply and the Rise in College Tuition: Evidence from the Expansion in Federal Student Aid Programs,” Federal Reserve Bank Of New York, 7/15)

  • The Study Showed That Increases In Student Loan Policy Increased Tuition By As Much As 65%. “We find that institutions more exposed to changes in the subsidized federal loan program increased their tuition disproportionately around these policy changes, with a sizable pass-through effect on tuition of about 65 percent.” (David Lucca, Taylor Nadauld, and Karen Shen, “Credit Supply and the Rise in College Tuition: Evidence from the Expansion in Federal Student Aid Programs,” Federal Reserve Bank Of New York, 7/15)
  • The Subsidized Loan Effect Was Most Pronounced On Private Institutions. “The subsidized loan effect on tuition is most pronounced for expensive, private institutions that are somewhat, but not among the most, selective.” (David Lucca, Taylor Nadauld, and Karen Shen, “Credit Supply and the Rise in College Tuition: Evidence from the Expansion in Federal Student Aid Programs,” Federal Reserve Bank Of New York, 7/15)

The Washington Post’s Editorial Board: “Democratic Candidates Are Off-Target On Student Debt” (Editorial, “Democratic Candidates Are Off-Target On Student Debt,” The Washington Post, 8/24/15)

  • Democrats “Aren’t Making The Right Distinctions” About How Student Loan Debt Is Viewed By Students.  “For some students, college debt can be a disincentive to attend or a crushing burden afterward. For others, many of whom are starting classes now, it is a reasonable investment in a degree that will lead to increased lifetime earnings. As they look for crowd-pleasing solutions to the college debt ‘crisis,’ the Democratic candidates aren’t making the right distinctions.” (Editorial, “Democratic Candidates Are Off-Target On Student Debt,” The Washington Post, 8/24/15)
  • Clinton’s College Affordability Plan Is “Imperfectly Targeted.” “Sen. Bernie Sanders (I-Vt.), for example, would make public higher education free, an expensive proposition that would subsidize a lot of rich people. Former secretary of state Hillary Clinton’s plan is smarter but also imperfectly targeted.” (Editorial, “Democratic Candidates Are Off-Target On Student Debt,” The Washington Post, 8/24/15)

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