Student debt is crushing the lives of millions of Americans. How does it happen that we can get a home mortgage or purchase a car with interest rates half of that being paid for student loans? We must make higher education affordable for all. We must substantially lower interest rates on student loans. This must be a national priority.
The future of the Democratic Party, the future of this country is involving young people in the political process, getting them to stand up for their rights, dealing with student debt, which I got to tell you is just crushing people all over this country, making public colleges and universities tuition free, those are the ideas we are bringing out, demanding the wealthy and large corporations start paying their fair share of taxes. This is what younger people, working class people want. That is the future of the Democratic Party.
As president, I will fight to make tuition in public colleges and universities free, as well as substantially lower interest rates on student loans.
At a time when the average student is graduating from a four-year college $27,000 in debt, when hundreds of thousands of capable young people no longer see college as an option because of high costs and when the U.S. is falling further and further behind our economic competitors in terms of the percentage of young people graduating from college, no agreement should be passed which, over a period of years, makes a bad situation worse and will make college even less affordable than it is today.
People are hungry, and they're hurting and they're very, very worried about their children. Will their kids ever pay off their student debt? Will their kids ever get a decent-paying job? I think Democrats have got to be running a grass-roots campaign - mobilizing people and being prepared to take on the 1 percent with an agenda that speaks to the needs of ordinary workers.
I was not a great student at the University of Chicago. I think that is - the record will bare me out. But I spent a lot of time reading history, sociology, psychology - reading everything except what I was supposed to read for class the next day.
In Germany, college tuition is free. In America, college tuition is increasingly unaffordable. In a highly competitive global economy, which country do you think will have the best educated work force and a competitive advantage? We must make tuition free in public colleges and universities and substantially reduce interest rates on student loans.
We must fundamentally restructure our student loan program. It makes no sense that students and their parents are forced to pay interest rates for higher education loans that are much higher than they pay for car loans or housing mortgages.
I do believe that we should substantially lower student debt in this country, which is crushing millions of people. We pay for it, in my view, by a tax on Wall Street speculation. The middle class bailed out Wall Street in their time of need. Now, it is Wall Street's time to help the middle class.
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