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Democratic presumptive nominee Hillary Clinton is expected to propose a moratorium on student loan repayment today (Wednesday), according to an article published by The Washington Post last night.
The former secretary of state's official announcement will come amid a campaign event in Atlantic City, NJ, today.
Specifically, the Clinton student loan plan would promise borrowers a three-month hiatus on repayment of their federal student loans to allow them time to refinance or restructure their high-interest debt.
Intended to appeal to young voters and Vermont Sen. Bernie Sanders' fans, Clinton's debt plan is part of a larger education package that likewise includes limiting student loan payments to a proportion of the borrower's debts and offering free financial advisement classes.
But nothing in life is free, as they say, and Clinton's student loan debt proposal comes with a steep price…
Clinton's plan is expected to cost the federal government more than $1 billion, reported The Washington Post…
Not because of the payment break it would grant, but because of the interest loss the federal government would suffer as a result from borrowers refinancing to cheaper loans.
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- The Washington Post: Clinton to Propose 3-Month Hiatus for Repayment of Student Loan