Issue Position: Here's How Marco Wants to Overhaul Our Outdated Higher Education System

Issue Position

Our higher education system is antiquated and broken in multiple ways. It is too expensive, too time consuming, and too inflexible for busy single parents and working adults. At a time when higher education is a requirement for most high-paying jobs, too many Americans do not have the time or money to earn a degree, and too many degrees do not lead to jobs.

Democrats' approach to fixing higher education is the same one that has been tried in Washington for decades: raise taxes and pour more money into the current outdated system rather than take the initiative to modernize it.

Marco has a different approach. As President, he will:

Simplify Existing Incentives to Help Students Pursue Higher Education

* Simplify tangled system of higher education tax incentives into one simple provision for post-secondary education;
* Reduce complexity of the federal financial aid application.

Equip Students and Families with Information Necessary to Make Informed College Decisions

* Make existing higher education information (including graduation rates for nontraditional students, transfers rates, student debt, post-graduation earnings, and likely employment outcomes) available online in an easily-accessible format to help students and families make well-informed decisions.

Reduce Burden of Student Loan Debt by Establishing Automatic IncomeBased
Repayment

* Establish income-based repayment (IBR) as the universal repayment method for federal student loans;
* Empower new borrowers to make loan payments in proportion to what they earn, and give graduates the option of consolidating existing loans into the new, simplified IBR system.

Reform Outdated Accreditation System to Accommodate Non-traditional Education

* Promote innovative learning programs by establishing a new accrediting entity to ensure quality of these courses, review eligibility for financial aid, and make credits transferable into the traditional system.

Invest in Student Success

* Allow students to apply for innovative "Student Investment Plans" from approved investors to help Americans finance postsecondary education without taking on the burden of student loans;
* Establish legal, accountable framework for students to repay loans based on what they earn after college.

Modernize Higher Education System to Fit 21st Century Economy

* Increase access to career and vocational education;
* Better utilize apprenticeships and valuable on-the-job training;
* Ease access to state colleges and online educational opportunities;
* Increase hiring of non-degree holding workers.

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