Mayor Pete's twist on college debt
Photo: Joe Raedle/Getty Images
Pete Buttigieg, who recently rocketed to the top of polls in Iowa, released a $500 billion college affordability plan today, which would make public college tuition free for households earning under $100,000 and inject $120 billion into federal Pell Grants.
The big picture: It contrasts with more expansive proposals from Bernie Sanders and Elizabeth Warren, who want to wipe out all college tuition and debt — though nearly every 2020 contender has their own ideas.
- The WashPost's editorial board called Buttigieg's plan "the most progressive" among 2020 Democrats "because it is more affordable and better targeted."
Why it matters: College affordability is set to be a key issue in 2020 as the American electorate undergoes a distinct shift — with millennials and Generation Zers making up 37% of eligible voters.
- Gen Z is set to surpass the Silent Generation in voter share for the first time, a significant milestone as those new voters skew heavily liberal and are almost half non-white.
- College students turned out to vote at double the rate in the 2018 midterms than in the 2014 cycle — a trend that seems likely to continue in 2020.
By the numbers: The class of 2018 graduated with a record average of $29,200 in loans for a bachelor's degree, but the issue of college debt affects a wider swath of the country than just current students and recent graduates.
- Americans over 60 hold $86 billion in college debt, brought on by financing their kids' education or going back to school after the 2008 financial crisis.
- The cost of college is also depleting rural America of its best and brightest as debt-saddled graduates head to major cities to find better-paying jobs.
The bottom line: Buttigieg, as a moderate millennial Midwestern mayor, seems uniquely suited to speak to the issue of college affordability, and that opportunity is arriving just as he peaks in the polls.
- He has made the impact of automation on Rust Belt jobs a key campaign issue — plus, the 37-year-old and his husband have $130,000 in outstanding college debt between them.