Nolan Introduces Debt-Free College Act Of 2018
[WASHINGTON D.C.] U.S. Rep. Rick Nolan and 22 original cosponsors introduced the Debt-Free College Act of 2018 today. The measure would boost access to higher education across the country by allowing eligible students to attend 2-year and 4-year public institutions without taking out loans and leaving them in debt after graduation. Participating states would receive a one-to-one match from the federal government (matching their current higher education funding) to provide need-based grants for students’ cost of attendance that their families cannot afford – with the goal of achieving debt-free college for all in-state students within five years of joining the federal-state partnership.
“Debt-free college can be a reality in America,” Representative Nolan said. “It’s all a matter of spending priorities. Will we invest in our students now, setting them up for debt-free futures and with the ability to buy a home, have children, and live a productive life? Or will we continue on our current path of spending on endless wars of choice and so-called ‘nation-building’ abroad? These are the key questions we must address to move forward and invest in the American people, rebuild our infrastructure, and create the good middle class jobs we need here at home to grow our economy.”
Nolan further pointed out that the cost of college, adjusted for inflation, has increased by 300 percent in the last 30 years. This has left some 42 million American college students drowning in a total of $1.3 trillion in student loan debt. Further, for some Americans, the cost of college simply leaves higher education out of reach. For a young American in either situation – drowning in debt or not attending college due to its cost – the current higher education funding system is failing them.