AboutTrump.org

(and Biden)

A free searchable database containing over 35,000 curated and sourced quotes by and about the 2020 presidential election candidates, Donald Trump and Joe Biden.

1/27/2017

DEBT/STUDENT LOANS: " 'Students should not be asked to pay more on the debt than they can afford,' Trump said during an October appearance in Columbus, Ohio. 'And the debt should not be an albatross around their necks for the rest of their lives.'
His solution: Capping annual student-loan payments at 12.5% of income. After 15 years, whatever’s still outstanding would be forgiven…
Trump’s proposals for a 12.5% of income cap on payments and debt forgiveness after 15 years are a good starting point. He said during the campaign that he’d pay for uncollected student loans by reducing federal spending elsewhere…
One thing he may want to reconsider is that 12.5% cap — it’s a high amount compared to steps many other developed nations have taken in dealing with their own student-loan situations. Australia, for instance, puts its cap at between 4% and 8% of a borrower’s earnings, and you don’t have to make any payments until you’re pulling down at least $40,000 a year."

 – “Trump has a plan – a pretty good one – for tackling student debt,” The Los Angeles Times online, Jan 27, 2017, David Lazarus, 1/27/2017