Hillary Clinton is will propose a three-month halt on federal student loan repayments in order to allow debtors to restructure their debt.
Clinton will announce her plans Wednesday, according to a preview obtained by the Washington Post, while she campaigns in Atlantic City, N.J. — the site of a casino worker protest.
Under the proposal, student borrowers would be able to defer loan payments for three months, which could cost the federal government some $1 billion dollars in lost interest, according to the Post. Clinton addressed the student debt problem Tuesday at teacher’s union convention.
“I want everyone to be able to refinance your student loans so you never have to pay more than you can afford and for people who go into public service, and I include teaching because it is the first and primary public service,” Clinton said Tuesday at the National Education Association meeting in Washington. “Any remaining debt after you refinance will be forgiven after 10 years.”
During the Democratic primary, her opponent Bernie Sanders proposed offering free tuition at public colleges and universities, but Clinton dismissed the idea as impossible, instead focusing on student debt, which she believes achievable.
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