President Barack Obama has embarked on a two-day bus tour of New York and Pennsylvania. So far the trip has been brimming with education proposals from the President. He maintains that, despite the rising costs of college tuition, it is still a worthwhile investment.
The President is trying to put his money where his mouth is. So far he has proposed a college ranking system that would evaluate schools on their cost, job prospects, student debt loan ratios, scholarships, and other practical criteria. The rankings would provide parents and applicants a better understanding of what schools to apply to.
The President has also recommended that students attending such “high-performing” schools based on these criteria should receive greater financial aid.
Since 2004 until 2012, student loan debt has tripled. It now amounts to roughly $994 billion in the United States, according to the New York Federal Reserve.
Obama has already proven his intent to facilitate college education. His student loan program, equipped with generous loan forgiveness, has certainly gained him favor among the youth in his constituency if not at the expense of a little anxiety from deficit hawks.
Sources: LA Times