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College For All Act

Issue

Higher education in the United States is remarkably expensive and more important than ever in the job market. Credentialism in the US is growing, and the average amount of student loan debt is changing the landscape of American life. 

  • Average Student Loan Debt of 4-year college graduates is $30,000.
  • The median worker with a bachelor's degree will earn almost $1 million more over their career than the same worker with just a high school diploma.
  • Average tuition at a four-year public university in 1965 was $256,  today it is $16,188

Senator Bernie Sanders has reintroduced his College For All Act, this time co-sponsored by Massachusetts Senator Elizabeth Warren, New York's Kirsten Gillibrand, California's Kamala Harris, and Connecticut's Richard Blumenthal and Chris Murphy. When the Act was initially introduced in 2015, it had no co-sponsors. The Act:

  • Eliminates tuition and fees at public four-year colleges and universities for those making up to $125,00 and makes community college tuition/fee free for all.
  • Cuts student loan interest rates in half
  • Allows Americans to re-finance student loans at the lowest interest rate possible
  • Prevents the federal government from profiting off of the student loan programs
  • paid for by a tax on Wall Street speculation. (The $600 billion plan would be funded through a proposed tax on trades of stocks, bonds, and derivatives. The Wall Street tax will be proposed in a separate bill.)

Action

Contact your representatives and let them know how important equality of access to college education is to you and your community. 

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