BY US SENATOR BRIAN SCHATZ – President Barack Obama’s plan takes substantial steps towards reducing the cost of college for students of all backgrounds.
I have spoken with the President on several occasions about how to make higher education accessible for all families. This plan promotes accountability, innovation, and competition amongst colleges through a new rating system.
It also makes student debt manageable by capping loan payments at 10% of income and directing the Department of Education to increase efforts to help struggling students handle their loans and understand their options.
I will continue to work with President Obama and focus on a long-term solution in the Senate that puts college within reach for all Hawaii families.