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Obama unveils plan to control college costs

Chris

Council Member
(CNN) -- President Barack Obama unveiled a new college affordability plan Friday, proposing to further expand student financial aid while providing more assistance to schools that hold tuition down and cutting aid to those that do not.

The plan is part of a populist White House pitch to middle class families that promises to play an integral role in the Democrats' 2012 campaign.

Appearing before a raucous student crowd in Michigan -- a potentially critical swing state this year -- Obama outlined plans to boost total federal spending on Perkins loans from $1 billion to $8 billion. He also announced plans to push for the creation of a $1 billion competition encouraging states to contain public tuition rates, among other things.

SOURCE

What do you think about this move?
 

worldlymrb

Revenge
10K Jack Bucks says Harvard gets an Obama Waiver.

Whenever govt has dictated compulsory price controls in the past, it has has ALWAYS failed miserably.
 

Cicero

Mayor
From a strictly personal standpoint it's golden because one of my high school students needed another source for a research paper on the subject of College Debt. Finest kind!
 
P

PACE

Guest
Well, it works in the lending industry now, if a re-finance is done, the new legislation dictates that the lender must show a comparative analysis of their costs with regards to the closing effort, appraisals etc., in relation to what they are charging the customer; this is a good thing, and they must be within a certain percentage of the mean average, otherwise, the customer has the right to say "hold on a minute".

Banks have produced products for decades that were in direct competition with each other, but they were under no obligation to show that the ancillary costs were comparative to other lending organizations and their second tier subcontractors.

So, this model is working now for those who are in the refinance mode, and if this same model is used to manage the costs of universities or colleges that fall into the same range of student body, curricula, etc., it's a real eye opener for the holders of the loans, and of course, students who will carry what is basically a "mortgage" on their future for many years to come.

Making college more affordable encourages participation; participation reduces the running costs, so thru a managed program of assisting the academic community to really police their costs, we all benefit.

In fact, this may lead to the reduction in subsidies and also the increased subsidy of the business community, especially the technology sector in investing.

Regards
Pace
 

connieb

Senator
It sounds nice, but how is he going to pay for it? Borrowing for this type of plan would not be acceptable to me.

I would also like to see it extended to trade schools or actually even more focused on trade schools. Many kids are not cut out for college. And, what we have seen is a devalueing of a college degree because people who are not cut out for college has been pushed through it just to get their piece of paper. So, now it seems like "everyone" has one, so if you want to be a ahead you have to go beyond and get a masters, etc - overally raising the cost for many.

The reality is we need people who actually know how to do something and build something. WE need electricians and plumbers and carpenters. but, increasingly people who would excel in these trades are being pushed away by schools and their parents to go to college, where they don't excel. These trades offer good livings to those who are skilled and work hard at them. And, I would like to see our government throw money to those programs which offer real jobs that people can be proud of.
 

NightSwimmer

Senator
What do you think about this move?
In keeping with the context of the story, I will address the politics over the policy. I see it as a play to the silent majority of middle class America.

This move will not be loudly celebrated by either the Tea Party types or the Occupy crowd. Working families who appreciate that their kids can stay on their family health insurance plan while they try to figure out how to get them an education will probably be impressed, but those folks don't have much spare time for political activism.
 

Sodak

Council Member
Should I be impressed?

He's in campaign mode.

Promise 'em anything, particularly if it sounds like another handout.

End of story...........
 

justoffal

Senator
This is an Obama policy that I like.....now I would also like to see that trickle over into health care. Open up at least ten government funded Medical Schools and start turning out quality doctors and nurses ....break Academia's hold on expensive and elite medical education. In time you will see low cost health clinics replace the den of thieves that call themselves hospitals and health care clinics now. There is absolutely no reason at all for Physical to cost $1500.00....and I don't buy the lame excuse that its tort liability that drives up the price...it may be part of the problem but only part.
 

justoffal

Senator
Well it'll be interesting to see if he can deliver because this puts him directly at loggerheads with Academia....his biggest supporter aside from the EBT crowd.
 

Norkalein

Council Member
(CNN) -- President Barack Obama unveiled a new college affordability plan Friday, proposing to further expand student financial aid while providing more assistance to schools that hold tuition down and cutting aid to those that do not.

The plan is part of a populist White House pitch to middle class families that promises to play an integral role in the Democrats' 2012 campaign.

Appearing before a raucous student crowd in Michigan -- a potentially critical swing state this year -- Obama outlined plans to boost total federal spending on Perkins loans from $1 billion to $8 billion. He also announced plans to push for the creation of a $1 billion competition encouraging states to contain public tuition rates, among other things.

SOURCE

What do you think about this move?
As Bill Clinton once said ... "A candidate will say anything to get elected." We can't afford the increase from $1 billion to $8 billion dollars. We simply don't have the money. Period.
 

Craig

Senator
Supporting Member
As Bill Clinton once said ... "A candidate will say anything to get elected." We can't afford the increase from $1 billion to $8 billion dollars. We simply don't have the money. Period.
It will be far more expensive to not educate our youth. We are lagging behind in the ever important sciences. That means less innovation...and a weakening future.
 
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