Three cheers for President Obama – at least one cheer! He has pledged to make college more affordable by reshaping the way Americans pay for higher education.
The average tuition at four-year colleges has tripled over the past three decades. Mr. Obama estimates that students who take out loans are left, on average, with $26,000. of debt. Students of my personal acquaintance incurred an average of $40,000. One brand-new attorney reports $100,000. owed on college loans.
Obama proposes a new government rating system for colleges that would judge schools on their affordability and might be used to allocate financial aid. The proposal causes worry among college leaders who fear that the rankings could cost their institutions millions of dollars. Ya think?
Some congressmen are wary of deepening the government’s role in higher education. But the President argues that with the economy shaky and students facing global competition, making college affordable is “an economic imperative.”
“Higher education cannot be a luxury”, Obama said.
Wow! Did he read my blog?
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