What is Mitt Romney's campaign platform on education if elected President?
Romney's plan on education, coined “A Chance for Every Child,” includes decreased spending on federal loans and grants and instead encourages more varied options for students.
According to this plan, “America is fast becoming a society where education is unaffordable, a government loan is an entitlement, default is the norm, and forgiveness is the expectation.”
Instead of turning to the federal government, and spending through federal programs to provide solutions to the problem, Romney's plan points to ideas for lowering tuition cost, saying in his plan that “America needs a new normal, where college is affordable and paying off debt achievable.”
Romney's plan begins by reducing and streamlining the federal role in helping students pay for higher education. He says he will eliminate duplicative programs or programs that are an inefficient use of money.
Romney's plan calls for private companies to step in where the federal government will step out.
According to the plan, as president, Romney “will embrace a private-sector role in providing information, financing, and education itself, working with effective business to support the goals of students and their families.”
Romney touts private sector involvement as a way to create a more transparent system where students are more clearly informed about their obligations when taking out loans, as well as limit a financial burden on the federal government and taxpayers.
Providing students with information is a central part of Romney's higher education system. Romney argues defaulting on student loans is so common because students do not properly understand the burden they are taking on when initially taking out loans.
Romney's plan focuses on providing students and their families with more varieties of options of loans, through involvement of the private sector, and clearer expectations so students can understand obligations and weigh their choices up-front.
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