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article imageObama campaigning for lower tuition costs

By Amanda Byas     Aug 22, 2013 in Politics
Buffalo - President Obama sprung right back in campaign mode Thursday, August 22 with a barnstorming bus trip across upstate New York to endorse his plan to tackle the increasing costs of higher education.
Obama kicked off his tour with a speech to a full auditorium on the SUNY Buffalo campus where he told the boisterous, student crowd that reducing tuition costs and student debt were vital to promoting an effervescent middle class.
Obama told the students that he was in his forties before he paid off his student loans and emphasis the importance to make college affordable to everyone. Obama stated that the average student has an average of $26,000 in student loan debt.
The Obama plan calls for the creation of a new rating system that would score colleges and universities on affordability and student performance. Obama said that the new system should be effective by 2015. This will create greater accountability among colleges and universities and will also be used to determine federal aid allotments.
Obama also pledges to loosen regulations to encourage colleges and universities to be innovative in lowering their costs and proposed the expansion of the federal program that limits student debt payments to 10 percent of grads’ monthly income.
While Obama was promoting his plan he cited statistics from the College Board stating that the average tuition at a 4-year college has increased 250% over the past three decades. However, the family income only increased 16% over the past three decades.
According to the College Board, in New York the average cost for an in-state student at a public college is $20,442 that includes room and board.
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