If you are sitting on a mountain of student loan debt, you will likely have a lot at stake in the next presidential election. Candidates actions on subjects like student loan forgiveness, bankruptcy, and interest rates could make a huge difference in the lives of the average borrower.
At this point we are way to early in the election process to know what candidate will do the most for student loan borrowers. That being said, a recent op-ed in the Huffington Post suggests that the former Governor of Maryland, Martin O’Malley, might be the best selection for borrowers.
Among the reasons cited in favor of O’Malley:
- He transformed Maryland from being the 8th most expensive for state college educations to the 27th during his time as governor, in part because he froze tuition and then placed caps on tuition increases.
- He has stated a desire to help people refinance their debt, specifically noting that, “It’s outrageous that you can buy a home for a lower interest rate than you can get a student loan.”
While his record on student debt is certainly commendable, there is a lot of time between now and the 2016 election. With staggering amounts of former students holding staggering amounts of debt, much of it owed to the federal government, it will be very interesting to see how central an issue student loans play during the next election cycle.
For those interested in further reading, be sure to check out the full blog article at the Huffington Post.