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Clinton's Costly Higher Ed Plan

- August 10, 2015

Clinton's Much-Anticipated Higher Education Plan Draws From The Same Failed Democrat Playbook Of More Spending And Higher Taxes

Today, Clinton Will Roll Out Her Higher Education Proposal. "Hillary Clinton plans on Monday to begin rolling out one of the biggest-ticket policy proposals of her presidential campaign, a $350 billion plan aimed at reining in the ever-growing cost of college and help millions of borrowers struggling to repay student loans manage their debt." (Jennifer Epstein and Janet Lorin, "Hillary Clinton To Outline $350 Billion College Affordability Pitch," Bloomberg, 8/10/15)

  • With Lukewarm Excitement Surrounding Clinton's Candidacy, She Hopes Her Education Plan Will Excite Students And Millennials. "The Clinton campaign is hoping to use the issue to get students and millennial voters excited about the campaign." (Annie Karni and Allie Grasgreen, "Clinton Readies Student Loan Reform Rollout," Politico, 8/7/15)

Clinton's Higher Education Plan Comes With A Steep Price Tag That Will Be Funded With New Taxes

Clinton's Higher Education Proposal Will Cost A Staggering "$350 Billion Over 10 Years." "The plan-dubbed the 'New College Compact' and estimated to cost $350 billion over 10 years-would fundamentally reshape the federal government's role in higher education by offering new federal money, but with strings attached." (Laura Meckler and Josh Mitchell, "Hillary Clinton Proposes Debt-Free Tuition At Public Colleges," The Wall Street Journal, 8/10/15)

  • The Proposal Is The Most "Expensive Plan She Has Unveiled So Far." "Clinton's so-called 'New College Compact,' detailed in three fact sheets shared with reporters, is the most detailed and expensive plan she has unveiled so far on her 2016 presidential campaign. 'Students will be able to attend an in-state public university to get a 4-year degree without ever having to take out a loan for tuition,' one fact sheet claims." (Alex Seitz-Wald, "Clinton's Sweeping New Debt-Free College Plan," MSNBC, 8/10/15)

Clinton's Plan Would Significantly Expand Federal Government Spending. "The price tag for all Clinton's proposals is $350 billion over 10 years. That's a huge expansion of federal higher education spending; for comparison, the Congressional Budget Office projects that the Pell Grant program, the biggest part of the federal financial aid budget right now, will cost $380 billion over the next 10 years." (Libby Nelson, "Hillary Clinton's Plan To Bring Down College Costs, Explained," Vox, 8/10/15)

The President Of College Measures Has Warned That Clinton's Proposal, Specifically The Refinancing Of Existing Debt And Lowered Interest Rates, May Be "More Costly" Than Clinton's Estimates. "But when it comes to refinancing existing debt and lower current interest rates, the reality could be more costly than Clinton's campaign estimates because of the size of these programs, said Mark Schneider, a vice president and institution fellow at American Institutes for Research and president of College Measures. 'When we talk about changing student debt, I get nervous about how much many of these changes will cost,' Schneider said." (Nirvi Shah and Kimberly Hefling, "Clinton's $350 Billion Plan To Kill College Debt," Politico, 8/10/15)

  • Clinton Estimates That The Student Loan Interest Rate Program Will Cost $125 Billion Over 10 Years. "It would also lower borrowing costs for future students by allowing them to participate in the revamped program. Together, these planks are estimated to cost $125 billion over 10 years." (Laura Meckler and Josh Mitchell, "Hillary Clinton Proposes Debt-Free Tuition At Public Colleges," The Wall Street Journal, 8/10/15)

Clinton Will Pay For Her Plan With Higher Taxes By Capping Deductions On "Charitable Contributions." "The cost of Clinton's plan would be offset by capping itemized tax deductions for wealthy families at 28 percent, like those taken by high-income taxpayers for charitable contributions and mortgage interest. That proposal, which has long been included in President Barack Obama's annual budget, would raise more than $600 billion in the next decade, according to the Treasury Department." (Lisa Lerner, "Hillary Clinton To Propose $350 Billion College Affordability Plan," The Associated Press, 8/10/15)

  • It Is The Same Tax That "Has Long Been Included" In Obama's Budgets. "That proposal, which has long been included in President Barack Obama's annual budget, would raise more than $600 billion in the next decade, according to the Treasury Department." (Lisa Lerner, "Hillary Clinton To Propose $350 Billion College Affordability Plan," The Associated Press, 8/10/15)

Clinton's Plan Is Nothing New And Will Build On Obama's Higher Education Ideas That Have Failed To Bring Down Costs

Clinton's "Plan Builds On Ideas Already Proposed Or Enacted By Others." "Though much of the plan builds on ideas already proposed or enacted by others, some aspects carry a distinct Clinton's stamp." (Nirvi Shah and Kimberly Hefling, "Clinton's $350 Billion Plan To Kill College Debt," Politico, 8/10/15)

Clinton Has Tapped Into The "Same Ideas And Advisers" That Shaped Obama's Higher Education Plans. "Drawing on many of the same ideas and advisers on which President Barack Obama built his college affordability agenda, Clinton's proposals-to be formally unveiled at campaign stops in New Hampshire on Monday and throughout the rest of the week-include federal incentives for states to boost their spending on public higher education, options for students to graduate from state colleges and universities without taking out loans, and pushing for a program to help borrowers refinance existing debt first pitched by Obama." (Jennifer Epstein and Janet Lorin, "Hillary Clinton To Outline $350 Billion College Affordability Pitch," Bloomberg, 8/10/15)

Clinton's Higher Education Proposal Is A Continuation Of Obama's Policies. "Clinton has laid out a four-year agenda on how she'd like to change higher education. Much of the plan would continue or build on the Obama administration's policies." (Libby Nelson, "Hillary Clinton's Plan To Bring Down College Costs, Explained ," Vox, 8/10/15)

  • The Plan Suggests That Obama's "Most Prominent Ideas" Will "Remain Growing Orthodoxy." "It suggests some of the Obama administration's most prominent ideas - such as a push for greater transparency in higher education and a focus on income-based repayment as the way to manage student debt - are likely to remain growing orthodoxy." (Libby Nelson, "Hillary Clinton's Plan To Bring Down College Costs, Explained," Vox, 8/10/15)

If Elected, Clinton Would Subvert Congress And Implement Her And Obama's Policies By Executive Action. "Taken as a whole, Clinton's plan suggests that many of the Obama administration's policies would continue under a Clinton administration, including some that don't need Congress." (Libby Nelson, "Hillary Clinton's Plan To Bring Down College Costs, Explained ," Vox, 8/10/15)

Last Week's NBC/WSJ Poll Found That "Two-Thirds" Of Americans "Preferred A "Different" Approach To The Presidency Than Obama. "There's a nugget buried deep within the new NBC-Wall Street Journal national poll that speaks to the challenge for Hillary Clinton as she tries to follow President Obama into office next November. Just 30 percent of people polled said that the next president 'should take an approach similar to that of Barack Obama' while two thirds preferred a 'different' approach than the one of the current resident of 1600 Pennsylvania Avenue." (Chris Cillizza, "Hillary Clinton's Barack Obama Problem," The Washington Post's The Fix, 8/4/15)

CLINTON'S SIX-FIGURE SPEAKING FEES PAID BY COLLEGES WILL UNDERMINE HER COLLEGE AFFORDABILITY PLAN

Clinton Has Been Paid Hundreds Of Thousands Of Dollars By At Least 8 Universities, "Sparking A Backlash From Some Student Groups And Teachers At A Time Of Austerity In Higher Education." "At least eight universities, including four public institutions, have paid hundreds of thousands of dollars for Hillary Rodham Clinton to speak on their campuses over the past year, sparking a backlash from some student groups and teachers at a time of austerity in higher education." (Philip Rucker and Rosalind S. Helderman, "At Time Of Austerity, 8 Universities Spent Top Dollar On Hillary Rodham Clinton Speeches," The Washington Post , 7/2/14)

  • Clinton's High-Dollar Speaking Fees Will Become A "Political Liability" As "Democrats Have Made College Affordability A Central Plank Of The Party's Agenda." "Clinton's six-figure campus speaking fees could become a political liability for her in the 2016 campaign given that President Obama and other democrats have made college affordability a central plank of the party's agenda." (Philip Rucker and Rosalind S. Helderman, "At Time Of Austerity, 8 Universities Spent Top Dollar On Hillary Rodham Clinton Speeches," The Washington Post , 7/2/14)

If Clinton Was Paid Her Normal, Sky-High Speaking Fee, She Would Have Made Almost $2 Million. "Officials at those five schools refused to say what they paid Clinton. But if she earned her standard fee of $200,000 or more, that would mean she took in at least $1.8 million in speaking income from universities in the past nine months." (Philip Rucker and Rosalind S. Helderman, "At Time Of Austerity, 8 Universities Spent Top Dollar On Hillary Rodham Clinton Speeches," The Washington Post , 7/2/14)


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