Last week, Sen. Marco Rubio, R-Fla, announced a new proposal to help students finance higher education with the help of private financiers.
Rubio announced the Student Success Act with Rep. Tom Petri, R-Wis., which would allow for individuals or organizations to finance a students' college education, with students making repayments based on income after graduation.
“Allowing private investment groups to invest directly in an individual student is an alternative to student loans that helps make higher education more affordable and more accessible,” Rubio said in a statement.
This is not the first time Rubio has put together new proposals to address higher education.
Last year, Rubio teamed up with a bipartisan coalition of members of Congress to propose the Know Before You Go Act, which would allow students and families to learn about college graduation rates for non-traditional students, transfer rates, student debt and employment outcomes.