Over ninety percent of our children in grades K–12 attend public school. For that reason alone, it is imperative that all our children—regardless of race, gender, religion, or zip code—have access to a quality public education. We know that too many of our public schools are struggling, just as we know that more money alone is not the answer. However, we must not exacerbate the problem by starving struggling schools of public funds. A quality, free, public education must be maintained as the fundamental right of every child, which it has been for over two hundred years.
For students who pursue a post-secondary education, college is the second biggest investment they will make in their lives, after buying a home. But for some students, even their student loan debt load has eclipsed the price of purchasing a home. The cost of a college education has skyrocketed. It is out of reach altogether for some, and others graduate with student loan debts closing in on $200,000 with nothing to show for it but a piece of paper. If the next generation is to be competitive in a global economy, we must do more to make higher education affordable and release the anchor around their feet that is unnecessary college debt.
PUBLIC SCHOOLS
According to the U.S. Department of Education, the federal government provides only 8% of total funding for education and school-related services at the elementary and secondary levels. This figure includes federal funding for initiatives such as Title I, IDEA, the National School Lunch Program, and Head Start, all of which are valuable programs for reducing socioeconomic inequities. Accordingly, Congress needs to ensure that these programs are fully funded. They must not be allowed to become the targets of ideologically driven budget cuts or policy initiatives.
I will oppose any attempt to defund public education—whether through cuts to the education budget, tuition voucher programs, income tax credits for private school scholarships, income tax deductions for private school tuition, or any other scheme designed to transfer public funds to private education. We must never allow education to become a mere market commodity. It must be maintained as a fundamental right of every child.
HIGHER EDUCATION
As the global marketplace grows more competitive, we must prepare the next generation for success in the workforce. This means expanding opportunities for higher education and job training. There are many career fields that now require training beyond high school, but do not require a 4-year degree. Eligibility for student loan and Pell Grant programs must change to accommodate this new reality.
The average annual cost for tuition, fees, room, and board at a 4-year, public university has soared from what it was a decade ago—$31,000—to over $45,000 today. In that same period, average student loan debt has risen over 60% and now exceeds $34,000 on average per student or parent. Since higher education has become so essential to climbing the American ladder of opportunity, we must do a better job of making it affordable.
Congress should lift restrictions that prohibit student loan recipients from refinancing their loans when interest rates drop. Congress should expand the Public Service Loan Forgiveness Program (PSLF). Congress must repeal current financial regulations that forbid the discharge of student loan debt in bankruptcy proceedings. Furthermore, Congress should pass the Student Loan Repayment Assistance Act, which offers employers the same tax benefits for student loan repayment assistance that they already receive for tuition assistance.