Excerpts from the Democratic and Republican Party Platforms on Student Financial Aid
September 04, 2012
“Mitt Romney has a radically different vision. … He supports dramatic cuts to Head Start and the Pell Grant program. Tuition at public colleges has soared over the last decade and students are graduating with more and more debt; but Mitt Romney thinks students should “shop around” for the “best education they can afford.” And he supports the radical House Republican budget that would cut financial aid for more than one million students while giving tax cuts to the rich. We Democrats have focused on making sure that taxpayer dollars support high-quality education programs, but Mitt Romney is a staunch supporter of expensive, for-profit schools — schools that often leave students buried in debt and without the skills for quality jobs and that prey on our servicemembers and veterans.
Romney would roll back the tax relief Democrats provided to working families and college students, and would require massive new taxes on the middle class to pay for his $5 trillion tax plan that primarily benefits the wealthy."
Excerpts from the 2012 Republican Platform
Addressing Rising College Costs
College costs, however, are on an unsustainable trajectory, rising year by year far ahead of overall inflation. Nationwide, student loan debt now exceeds credit card debt, roughly $23,300 for each of the 35,000,000 debtors, taking years to pay off. Over 50 percent of recent college grads are unemployed or underemployed, working at jobs for which their expensive educations gave them no training. It is time to get back to basics and to higher education programs directly related to job opportunities. The first step is to acknowledge the need for change when the status quo is not working. New systems of learning are needed to compete with traditional four-year colleges: expanded community colleges and technical institutions, private training schools, online universities, life-long learning, and work-based learning in the private sector. New models for acquiring advanced skills will be ever more important in the rapidly changing economy of the twenty-first century, especially in science, technology, engineering, and math. Public policy should advance the affordability, innovation, and transparency needed to address all these challenges and to make accessible to everyone the emerging alternatives, with their lower cost degrees, to traditional college attendance.
Federal student aid is on an unsustainable path, and efforts should be taken to provide families with greater transparency and the information they need to make prudent choices about a student’s future: completion rates, repayment rates, future earnings, and other factors that may affect their decisions. The federal government should not be in the business of originating student loans; however, it should serve as an insurance guarantor for the private sector as they offer loans to students. Private sector participation in student financing should be welcomed. Any regulation that drives tuition costs higher must be reevaluated to balance its worth against its negative impact on students and their parents.