This is the Cato Daily Podcast for Monday, August 17, 2015.

I'm Kayla Brown.

Hillary Clinton's outline of a plan to make college more affordable would cajole states

into spending more and extend the length of time many graduates remain in debt.

The cost to taxpayers about $350 billion over 10 years.

Nyl McCluskey, director of the Cato Institute Center for Educational Freedom, says the plan

effectively subsidizes those with the highest earning potential.

Joining a course of major presidential candidates who want to make college more free to students. Secretary

Clinton put out a proposal that would spend about 350 billion dollars

over 10 years not to really make college free, but to make it more free.

And sort of the nucleus of this is the goal would be to have attendance at a public college or university be inexpensive enough

that nobody would need to take out loans.

This doesn't mean you don't have tuition still to pay.

There would still be some tuition to pay and it would still

be different depending on how wealthy you were, but the goal would be that the federal government

itself and then also incentivizing states to match federal funds

would kick in enough money to public colleges and universities that nobody would ever

have to go into debt to pay for it. There's more to the plan than that.

There's also kind of an expansion of loan forgiveness and income-based repayment.

So now anybody would have a federal loan

as opposed to different types of federal loans

would be able to pay back based on what the earnings are.

...