An in-depth look at student debt from the Virginia Collegiate Times analyzed the importance of college affordability in the upcoming election. With more than $1 trillion owed, a sum exceeding national credit card debt, whichever candidate wins the election will have to deal with the issue.
In the past four years, Obama has made education a priority. He signed the Education Reconciliation Act, increased funding for Pell Grants and decreased the burden for students who have federal loans. Obama said he will continue these initiatives if re-elected.
Romney’s plan takes a different approach, focused on decreasing federal loans and grants, instead encouraging more varied options for students. He calls the plan “A Chance for Every Child,” and will focus on involving the private sector in the loan and funding process.