Should Congress eliminate college tuition and fees for families making less than $125,000?
This bill would make community college free for everyone as well as eliminate tuition and fees at public colleges and universities for families making up to $125,000. It would be paid for by another bill that will enact taxes on stock trades, bonds, and other assets. It would also double the maximum Pell Grant amount and would be expanded to Dreamers.
Sponsor: Rep. Jayapal, Pramila (Democrat, Republican, District 07)
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How do you feel?
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Opponents say
• "How come the banks aren’t getting hit up? Aren’t they the ones charging student loans? Charging 7, 8, 9% for student loans. Why weren’t the colleges saying ‘Hey, why don’t we reduce the actual cost of college?" Source: Matt Sapaula, PHP Agency Inc. Chief Distribution Officer
• "Ironically, the College for All Act would tax college savings in an attempt to make college more “affordable.” A Modern Market Initiative study looked at the effect of an FTT, similar to what is proposed … and found that a hypothetical 529 College Savings plan with $12 billion in assets would experience a negative impact of $19 million annually. This study also found that an FTT would cost 401(k)s $64,232 annually, or the cost of working an additional two years." Source: Will Yepez, National Taxpayers Union
Proponents say
• "Today, this country tells young people to get the best education they can, and then saddles them for decades with crushing student loan debt. To my mind, that does not make any sense whatsoever. In the 21st century, a free public education system that goes from kindergarten through high school is no longer good enough. The time is long overdue to make public colleges and universities tuition-free and debt-free for working families." Source: Sen. Bernie Sanders (Democrat, Vermont)
• "Borrowers deserve freedom from the predatory cycle of student loans." Source: Student Debt Crisis Center (SDCC), Twitter
• "This is the only real solution to the student debt crisis: eliminate tuition and debt by fully funding public colleges and universities. It’s time for your member of Congress to put up or shut up. Solve the root cause and eliminate tuition and debt." Source: Debt Collective, Twitter
- Sanders, Jayapal & Colleagues Introduce Legislation to Make College Tuition- and Debt-Free for Working Families (Press Release)
- Senate Introduces Bill to Make Community College Free by Taxing Wall Street (Truthout)
- The Numbers Don’t Add Up in the College For All Act (National Taxpayers Union)
- Rep. Pramila Jayapal Open Secrets Page
