Martin O’Malley racked up $339,200 in loans putting two kids through college

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Last edited Wed Jul 8, 2015, 08:23 AM - Edit history (2)

from the WaPo:

Martin O’Malley racked up $339,200 in loans putting two kids through college. He wants to lighten the load for others

Democratic presidential hopeful Martin O’Malley plans Wednesday to put forward an ambitious five-year goal of allowing students to graduate debt-free from public colleges and universities across the country.

The proposition is deeply personal for O’Malley: Aides say he and his wife have already incurred $339,200 in loans to put the two eldest of their four children through universities. And college affordability was a leading priority for O’Malley during his tenure as Maryland’s governor.

O’Malley, who plans to detail his plan during a morning event in New Hampshire, will call on states to freeze tuition rates at public colleges and universities -- as Maryland did for four years -- and propose other measures that would help those carrying debt.

Under O’Malley’s plan, a copy of which was shared with The Washington Post, students and parents would be able to refinance their debt at lower interest rates. And O’Malley would base the repayment terms for student borrowers on their income upon graduation.

For the long term, O’Malley says he would set a goal of limiting college tuition to 10 percent of a state’s median income at four-year institutions and 5 percent at two-year institutions. Federal matching grants would help states that participate in reaching the goal.

Under his plan, O’Malley would also increase Pell Grants and revamp federal work-study programs to help cover non-tuition costs, such as room and board...


read more: http://www.washingtonpost.com/blogs/post-politics/wp/2015/07/08/martin-omalley-racked-up-339200-in-loans-putting-two-kids-through-college-he-wants-to-lighten-the-load-for-others/

related:

Martin O'Malley Calls For Debt-Free College Within 5 Years
http://www.democraticunderground.com/1251431444

Martin O'Malley to lay out plan for reducing college costs, student debt burdens
http://www.usnews.com/news/politics/articles/2015/07/08/omalley-to-lay-out-plan-for-debt-free-college

NEA named Maryland’s Martin O’Malley ‘America’s Greatest Education Governor’ in 2010
http://www.nea.org/home/40032.htm

[ALBliberal]

1. Where did they go to college? That's a lot of debt.

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2. Daughter Grace's story

...deciding on affordable college or college of her dreams:



http://www.democraticunderground.com/1251431523

[ALBliberal]

3. my daughter was accepted to the University of Chicago

And recruited to play soccer there. Division III school no athletic scholarship. Highly competitive scholastic scholarships. We had to tell her no. It was heartbreaking but we couldn't justify the student loans offered especially with two other kids to get through college. She graduates this year with a degree in education. She's assistant varsity soccer coach at our high school. She's made the best of it all.

[FSogol]

4. K & R. n/t