2008 Woodie Awards
With Maine a battleground, Clinton talks to students at the UM Recreation Center
Heather Steeves
Issue date: 2/11/08 Section: News
Presidential candidate Hillary Clinton spoke in a town forum to University of Maine students at the Recreation and Fitness Center. Clinton discussed subjects ranging from health care to student loan reform Saturday morning.
"I am tired of hearing about young people who get shut out of college because they can't afford it or their families can't afford it," Clinton said. "When I hear about families that mortgage their homes, sell their homes, go deeply into debt, put college expenses on credit cards and find themselves facing bankruptcy - I do not think a family in Maine should have to sell or mortgage their home or go into debt to send your child to college."
Clinton proposed a cap on student interest rates and making more loans available through the government.
Clinton said she would help Maine students by increasing Pell grants and Hope scholarships. "We need to start making an investment in our young people again. I also want to provide two years of national service for any young person willing to do it, earn up to $10,000 a year - which would go directly into college expenses - and I especially want to help people who are graduating with so much debt, all of these Maine students with all of this debt. If you are willing to do a public service job like teaching or nursing or law enforcement, we will forgive your debt," Clinton said.
The audience groaned when asked about their own student debt and high-interest student-loan rates, which one audience member said was almost 30 percent.
"Students are going deeply in debt," Clinton said. "They are being taken advantage of by these student loan companies that, I believe, are practicing predatory lending. I want to end the student loan company's monopoly, take them out of this business, get back to direct lending."
Direct lending involves students borrowing money from the government instead of relying on third-party lenders. Clinton's plan also calls for eliminating subsidies to these lenders.
"I am tired of hearing about young people who get shut out of college because they can't afford it or their families can't afford it," Clinton said. "When I hear about families that mortgage their homes, sell their homes, go deeply into debt, put college expenses on credit cards and find themselves facing bankruptcy - I do not think a family in Maine should have to sell or mortgage their home or go into debt to send your child to college."
Clinton proposed a cap on student interest rates and making more loans available through the government.
Clinton said she would help Maine students by increasing Pell grants and Hope scholarships. "We need to start making an investment in our young people again. I also want to provide two years of national service for any young person willing to do it, earn up to $10,000 a year - which would go directly into college expenses - and I especially want to help people who are graduating with so much debt, all of these Maine students with all of this debt. If you are willing to do a public service job like teaching or nursing or law enforcement, we will forgive your debt," Clinton said.
The audience groaned when asked about their own student debt and high-interest student-loan rates, which one audience member said was almost 30 percent.
"Students are going deeply in debt," Clinton said. "They are being taken advantage of by these student loan companies that, I believe, are practicing predatory lending. I want to end the student loan company's monopoly, take them out of this business, get back to direct lending."
Direct lending involves students borrowing money from the government instead of relying on third-party lenders. Clinton's plan also calls for eliminating subsidies to these lenders.
Viewing Comments 1 - 2 of 2
Loyal D
posted 2/12/08 @ 2:00 AM EST
I have been a Democrat my whole life. I could not be more disappointed with this cynical game she is playing with the student loan issue.
Mrs. Clinton, if you're really tired of hearing about families that can't afford college, get mad at colleges. (Continued…)
Jack
posted 2/12/08 @ 9:45 AM EST
Many voters are realizing how reckless the Clintons will be to win this election. Her comments on "predatory student lending" are totally over the line and do not reflect the reality of non-federal student loans. (Continued…)
Post a Comment