|Supporter of Senator Bernie Sanders for student loan reform.|
Many issues are currently at the forefront of political debate as we approach this year’s election. College affordability is among those issues, and continues to be a pressing issue for students. Student loan debt has been labeled a “hallmark issue” in the upcoming 2016 presidential election.
Some politicians continue to protest the idea of a free college education, while some, like Senator Rand Paul, are in favor of the idea of making college tuition completely tax deductible. Senator Bernie Sanders posed the idea of a free college education provided by public universities, while Hilary Clinton has joined forces with policy experts to help formulate her a new plan for reform.
While getting a conversation going may seem to provide a favorable outcome, so far, the chances of new changes being implemented are slim, as Congress actively resists advances in legislation.
According to The Huffington Post, the following policies would prove to be beneficial to the borrower, and help relieve the burden of student loan debt:
- Increase the student loan interest ax deduction
- Offer deductions to employers who pay employees’ student loans
- Allow graduates to repay student loans using pre-tax dollars
What are your thoughts?