Hillary Clinton Has a New Student Debt Forgiveness Plan
By Katie McDonough | 6/28/16 | Source: Fusion
Hillary Clinton has a new student debt forgiveness plan. But who will really benefit?
Hillary Clinton’s campaign announced a plan on Tuesday to encourage entrepreneurship among young people while also easing the burden of student debt.
Since she clinched the Democratic presidential nomination in early June, Clinton’s campaign has been trying harder to reach young voters, who turned out overwhelmingly for Bernie Sanders in the primaries. And addressing the intersection of student debt and small business seems like a smart policy move since two recent Fusion polls suggest that a lot of young people with student debt also see owning their own business as a major part of the American Dream.
Clinton’s plan would allow people starting businesses to defer payment on their federal student loans for up to three years—zero interest and zero principal. And people who start ventures that operate or create jobs in “distressed communities” or “provide measurable social impact and benefit” can have up to $17,500 of their loans forgiven outright after five years.
All of which sounds great on paper, but startup culture is disproportionately white and male. If that’s the path to loan forgiveness and expanded deferments, then who will really benefit?
Read the full story HERE.