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August 23, 2013

Obama Takes Up Student Debt, Calls for New Ranking of Schools 
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President Obama has unveiled a new plan to address the high costs of
college in the United States. Speaking in Buffalo, Obama said an
estimated $1 trillion in student debt is hurting the economy and
threatening the futures of millions of young Americans. Obama's proposal
centers around a new official ranking system that would rate colleges on
their value to student dollars.

President Obama: "What we want to do is rate them on who's offering the
best value so students and taxpayers get a bigger bang for their buck.
Number two, we're going to jumpstart new competition between colleges
— not just on the field or on the court, but in terms of
innovation that encourages affordability, and encourages student
success, and doesn't sacrifice educational quality. That's going to be
the second component of it. And the third is, we're going to make sure
that if you have to take on debt to earn your college degree, that you
have ways to manage and afford it."

 

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