Obama proposes bigger federal role in college funding

Obama: “At Some Point The Government Will Run Out of Money”…

Saying the rising costs of college are punishing students who’ve played by the rules, President Obama on Thursday said he’ll ask the federal government to take a broader role in lowering tuition costs by rating schools based on their educational value, and trying to tie future taxpayer aid to how well schools do.

Mr. Obama, speaking at the State University of New York-Buffalo, said he’ll cap student loan repayments at 10 percent of their future paychecks, but will also take steps to punish students who are attending school on federal grants by doling out the money in chunks to make sure they stay in school.

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The announcements came as part of a two-day bus tour the president is taking through New York and Pennsylvania as he tries to breathe life back into his domestic agenda, which has stalled amid budget and partisan battles on Capitol Hill.

To counter that, Mr. Obama returned to the rich vs. poor theme he struck on the campaign trail last year, saying his efforts to control education costs are in line with his other moves, such as raising taxes on the wealthy, signing his health care law, and bailing out automobile manufacturers.

“We can’t price the middle class and everybody working to get into the middle class out of a college education,” Mr. Obama said. “We can’t go about business as usual.”

Via: The Washington Times

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