Marco Rubio has a wild plan to have investors pay for college and make money off students' future earnings
Republican presidential hopeful Marco Rubio gave a sweeping speech on Tuesday where he called for an overhaul of the US higher education system.
Rubio's speech lampooned political leaders, specifically calling out Hillary Clinton, for their "narrow and shortsighted" solutions for the problems that plague higher education. And he compared the current system to a cartel of a few powerful colleges that wield all the power over the accreditation process.
Rubio pledged to bust this supposed oligarchy of schools and allow free market forces to provide innovative solutions to the issues affecting higher education. Below are the highlights from his plan:
- Within the first 100 days establish a new accreditation process for colleges
- Expand apprenticeship and vocational programs
- Propose the "Student Right to Know Before You Go Act,” which will require institutions to tell students how much they can expect to earn with a given degree before they take out the loans to pay for it
- Income-Based Repayment will become automatic for all graduates, making loan payments contingent upon individual discretionary income
- Student Investment Plans would allow students to partner with investors who would pay their tuition in return for a percentage of their earnings for a few years after graduation
SEE ALSO: Marco Rubio just called the US higher-education system a 'cartel'
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