Today President Barack Obama will announce his plans to help college graduates deal with their college loans. Borrowers’ debt load is growing and retarding the ability to buy homes, start businesses or otherwise spend to spur the economy, according to economists. His plan is to expand on a 2010 law that capped borrowers’ repayments at 10 percent of their monthly income. The intent is to extend such relief to an estimated five million people with older loans who are currently ineligible — those who got loans before October 2007 or stopped borrowing by October 2011.
Governor Rick Scott kicks off today a week-long statewide College Affordability Tour to highlight his efforts to reverse the tuition increases signed into law by his predecessor Charlie Crist. Scott has worked with Florida state colleges to offer $10,000 degrees in important fields.
STATEMENT FROM GOVERNOR RICK SCOTT: “When I became governor, I made a promise to Florida families that we would hold the line on tuition. I’m proud to say we’ve done just that. I know what it’s like to work your way through school, but for many kids today, the rising cost of college tuition is making it hard to afford college. That’s why it was so important to reverse Charlie Crist’s 15 percent tuition hike and give every student who grows up in Florida the chance to pursue an affordable college education. I want to make sure that our students can get a great education, start a successful career, and live the American dream right here in Florida.”
Governor Scott’s College Affordability Tour will span the coming week and include visits to Boca Raton, Fort Myers, Miami, Orlando, and Pensacola.