Obama v. McCain on Student Loans
The New York Times had an interesting article on Oct. 29th on the differences between Obama and McCain’s positions on student loans. To summarize:
Obama’s Plan: $4,000 tax credit for tuition in return for 100 hours of community service (available to all students, even those whose families do not make enough to pay taxes); Add $1.5 billion to the Pell Grant program
McCain’s Plan: Publicly encourage colleges to slow tuition increases; Improve the student loan market to add competion and more flexible payment options; Increase Pell Grant so that it funds the cost of in-state tuition at public universities
Honestly, I like both of their plans. The article has some pretty good analysis (read: better than I could do, so I’m not going to try) on the strengths and weaknesses of each.
Side note: The article also reports that the Obamas just finished paying off their student loans in 2004. Yikes.