Tammy Duckworth on Education
Congressional Summary:Amends title IV (Student Assistance) of the Higher Education Act of 1965 to extend the 3.4% interest rate on Federal Direct Stafford loans to loans first disbursed to undergraduate students between July 1, 2011, and July 1, 2015. Replaces the [termination date of] 2013 with 2015.
Proponent's argument for bill:(US PIRG press release): The Student Loan Affordability Act keeps interest rates affordable for students over the next two years. If Congress fails to act by July 1, interest rates on federal Subsidized Stafford Loans will double from 3.4% to 6.8%. That would hike the cost of college by $1,000 per student, per loan, for over 7 million students across the country. The bill pays for extending the current interest rates through 2015 by closing three non-education tax loopholes.
Opponent's argument against bill:(Rep. Tom Cotton, R-AR): Unfortunately, too many students today struggle for years to repay their loans because Washington politicians dictate student-loan rates and end up hurting students and taxpayers alike. It's causing tuition costs to skyrocket, leaving students buried in debt, often without jobs, and forced to delay buying a home and starting a family. As students struggle to repay their loans--regardless of the interest rate--taxpayers are on the hook for a $100 billion bailout--a burden hard-working Arkansans shouldn't have to bear. A better path is to let Arkansas's hometown banks work with students and families to finance higher education, just as they do with homes, farms, businesses, and other loans. I'm committed to bringing affordable higher education to every Arkansan and ending the federal-government monopoly on the student-lending business.
Excerpts from press release from Tammy Baldwin, Senate sponsor: The America's College Promise Act makes two years of community college free by:
Opposing argument: (Cato Institute, "College Courtesy of the Taxpayer? No Thanks," Jan. 9, 2015): One look at either community college outcomes or labor market outlooks reveals free college to be educational folly. Community college completion rates are atrocious: a mere 19.5% of community college students complete their programs. Meanwhile, the for-profit sector has an almost 63% completion rate. And [about 70%] of the new job categories in coming years will require a high school diploma or less.
Opposing argument: (Heritage Foundation, "Free Community College Is a Bad Deal", July 15, 2016): Free college proposals would subject community colleges to the same types of subsidies-induced inflation endemic at four-year institutions. And low-income students already have access to federal Pell Grants, which can cover the bulk of community college tuition. By contrast, a more open market of alternative schooling models, such as online or vocational education programs, could better tailor degrees at a lower cost.
|2016-17 Governor, House and Senate candidates on Education:||Tammy Duckworth on other issues:|
Special elections in 2017 (Democrats):
CA-34:Gomez(D; elected June 6)
Newly-elected Democrats seated Jan.2017:
Special elections in 2017 (Republicans):
KS-4:Estes(R; elected April 11)
GA-6:Handel(R; elected June 20)
MT-0:Gianforte(R; elected May 25)
SC-5:Norman(R; elected June 20)
Newly-elected Republicans seated Jan.2017: