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Joe Biden Will Give Free College To Students From Low Socioeconomic Backgrounds

Joe Biden Will Give Free College To Students From Low Socioeconomic Backgrounds

The President-elect is also committed to wiping around $1.6 trillion in outstanding student debt.

Stewart Perrie

Stewart Perrie

Joe Biden has reaffirmed his plan to give free college to people who come from low socioeconomic backgrounds.

The President-elect told his millions of followers on social media that he was committed to seeing the policy get approved.

He wrote just before Christmas: "In the 21st century, twelve years of school isn't enough. That's why under the Biden-Harris plan, community college will be free - and public colleges and universities will be tuition-free for families earning less than $125,000 a year."

The policy has certainly divided experts on how the government would be able to pay for it, especially considering some courses can cost a hell of a lot of money.

But Joe Biden explained in October that too many people were being burdened with debt after getting a degree, which is now considered essential.

PA

In a statement on his website, the President-elect said: "For too many, earning a degree or other credential after high school is unaffordable today.

"For others, their education saddles them with so much debt it prevents them from buying a home or saving for retirement, or their parents or grandparents take on some of the financial burden.

"Biden is proposing a bold plan for education and training beyond high school that will give hard-working Americans the chance to join or maintain their place in the middle class, regardless of their parents' income or the color of their skin."

His administration will invest in community colleges, making some courses completely free for everyone, and support colleges and universities that play a 'unique and vital' role in their communities.

The federal government would look after 75 per cent of the payments and the states would pick up the rest.

The move to make community college free will bring into line what already exists in 25 states like Arkansas, Indiana, Minnesota, Montana, Oregon, Rhode Island and Tennessee.

Biden also plans to forgive $10,000 in student debt for all borrowers. If that becomes a reality, then a whopping $1.6 trillion in outstanding student debt would be wiped away.

A report from Georgetown University found the plan plan will cost taxpayers $49.6 billion in its first year. However, the program could pay for itself after 10 years on the annual tax revenue.

Featured Image Credit: PA

Topics: joe biden, News