1787'S SOLUTIONS
Learn more about the Service for School program.
Continue the student loan categories currently offered by the Direct Loan Program.
Undergraduate: Change the Income-Based Repayment (IBR) program to 10 percent of discretionary income and loan forgiveness after 15 years.
Graduate: Change the Income-Based Repayment (IBR) program to 12.5 percent of discretionary income and loan forgiveness after 20 years.
Service for School will hopefully replace the Public Service Loan Forgiveness (PSLF) program one day. However, PSLF should be supported until that time. Anyone currently benefitting from PSLF will receive all the benefits promised. Your benefits will not be affected by the PSLF program being replaced!
Continue the Federal Pell Grant program, the Federal Supplemental Educational Opportunity Grant program, and the Teacher Education Assistance for College and Higher Education (TEACH) grant program.
Restore significant federal oversight of private student loan companies.
Restore significant federal oversight of predatory for-profit colleges.
Explore Income Share Agreements, an arrangement where borrowers pledge a percentage of their future income against debt.
As affirmative action is shifting from race to socioeconomic factors, colleges and universities should increase financial aid for poor and working-class students to create more diverse student bodies.
Do not allow government agencies to seize state-issued professional licenses from people who default on their student loans.
Expand the “Iraq and Afghanistan Service Grant” to include students whose parent/guardian died because of military service anywhere.
Debt and default among black college students is at crisis levels. Understand and address the unique challenges these students face.