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October 29, 2007
Which presidential candidate will save you the most cash?
I'll be able to vote in the next presidential election. I'll give you a moment to be terrified by this prospect.
The truth is that many other high school and college-aged students will be able to help choose their next president. And, while matter such as the Iraq War, health care, and national security are important to everyone, there is one issue near and dear to the hearts of many teenagers and twenty-somethings across the country: how are we supposed to pay for college?
Here's how some top candidates say they'll make college a more affordable reality:
Sen. Barack Obama
Obama says that he's trying to increase the maximum Pell Grant from $4,050 to $5,100. The average award from the Pell Grant now is $2,445. Pell Grants right now cover only about a third of the cost of education; considering that the grants usually go to students with incomes under $20,000, this is clearly not enough. However, President Bush and Congress recently passed legislation doing pretty much this exact thing, so Obama's webmasters really need to update his website.
Obama also wants to add greater support to the federal college loan program. Since it's cheaper for colleges to use direct federal loans than subsidized federal loans through banks, "Obama cosponsored Senator Kennedy's Student Debt Relief Act, which encourages colleges to participate in the Direct Loan program and use the savings to invest in grant aid to students." He also says that he's looking to create more "transparency" in the whole financial aid ordeal, which I'm guessing means less forms and paperwork (fine by me).
Sen. Hillary Clinton
Clinton recently gave a speech at Plymouth State University in New Hampshire outlining her plans for making college more affordable. She plans on creating "a new G.I. Bill of Rights for the 21st century," which would pay for 36 months of school in return for 4 years of active duty military service. She's also planning on making a tuition-free public service academy for people who want to go into service careers like education or public health.
The coolest part of her plan, though, was her rebooting of the financial aid process. I'll just quote her, since it's pretty much awesome:
...I will make applying for financial aid in the first place a lot easier. Now, as you know from your experience, you practically need a Ph.D. to understand how to fill out these forms... Americans spend 100 million hours a year filling out these forms. That is the equivalent of 55,500 full-time jobs.
But 25 percent of the qualifying expenses never get claimed. These forms are tedious, confusing and 100 percent unnecessary.
That's why I'm getting rid of them...
Here's what you'll do when I'm president. You'll check one box on your income tax return. Doesn't matter whether you're long form or short form, one box. That's it.
Then you'll receive a letter from the Department of Education with a couple showing the amount of federal aid, grants and loans, you're entitled to. You'll include this information on your application. Your college will collect the money directly from the Department of Education. And you'll be on your way to getting the diploma.
This will save families and students 100 million hours a year. It'll save the government money. And it will increase, we estimate, the college-going rate by about 5 to 7 percent. Think that's a pretty good payoff for eliminating piles of paperwork.
Ok, so, whoever actually does become president: PLEASE do this. Obama, with your vague argument for less "transparency," I hope you mean something along the lines of this plan.
Clinton also wants to keep college costs steady, so that students don't have to face sudden tuition hikes. And also tons of other things. Just read the speech. Wow, so I never thought I'd say this, but all of a sudden I really like Hillary Clinton.
Fmr. Sen. John Edwards
Like Obama, Edwards wants overhaul subsidized student loans. He also, like the two other candidates, wants to simplify the financial aid process (though not get rid of the FAFSA form entirely like Clinton does).
The plan he is touting the most, however, is his "College for Everyone" program. This program "will create a national initiative... to pay one year of public-college tuition, fees, and books for more than 2 million students. In return, students will be required to work part-time in college, take a college-prep curriculum in high school, and stay out of trouble." This sounds great, though since it's just for students enrolling in public institutions, he's only really addressing a fraction of college attendants, and not the ones that usually leave college with insurmountable debt. However, anything that encourages enrollment in higher education can't be a bad thing, right?
In conclusion...
Obama underwhelmed me, Clinton impressed me, and Edwards is, well, at least being innovative.
By the way, in case you're getting the sneaking suspicion that I'm leaving somebody out... the leading Republican contenders don't have any such plans, because helping children pay for a quarter-million-dollar investment in their future is probably socialist or something. I did learn from their websites, however, that in the words of Rudy Giuliani, school choice "is one of the great civil rights issues of our time." Gee, I hope he doesn't tell that to any homosexual? Anyway, sorry for the apparent lack of balance: I tried.
Posted by Jaime on October 29, 2007 7:05 PM
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