Obama’s Plan Aims to Lower Cost of College

[steve2470]

http://www.nytimes.com/2013/08/22/education/obamas-plan-aims-to-lower-cost-of-college.html?google_editors_picks=true&_r=0

President Obama plans to announce a set of ambitious proposals on Thursday aimed at making colleges more accountable and affordable by rating them and ultimately linking those ratings to financial aid.

A draft of the proposal, obtained by The New York Times and likely to cause some consternation among colleges, shows a plan to rate colleges before the 2015 school year based on measures like tuition, graduation rates, debt and earnings of graduates, and the percentage of lower-income students who attend. The ratings would compare colleges against their peer institutions. If the plan can win Congressional approval, the idea is to base federal financial aid to students attending the colleges partly on those rankings.

“All the things we’re measuring are important for students choosing a college,” a senior administration official said. “It’s important to us that colleges offer good value for their tuition dollars, and that higher education offer families a degree of security so students aren’t left with debt they can’t pay back.”

Mr. Obama hopes that starting in 2018, the ratings would be tied to financial aid, so that students at highly rated colleges might get larger federal grants and more affordable loans. But that would require new legislation.

[customerserviceguy]

1. While we're at it

why not "rate" courses of study for financial aid worthiness? It should be more costly to get that loan for the art history major than it would be for nursing.

[newfie11]

2. This will be interesting

Waiting.....

[The Link]

3. Talk, talk, talk.

[groundloop]

4. After thinking about this, it might actually help

There are quite a few for-profit degree mills out there which don't do much beside suck up money from students who go into debt big time to attend. If more people were educated about these farce "colleges" they wouldn't be so quick to get student loans to attend, which in turn would make student loan money more available for legitimate colleges and universities.

ALSO, we have to remember that the President's hands are tied as far as what he can do. The repub controlled do-nothing House certainly isn't going to pass any law which would help students and diminish the profits of the big-money lenders, so the President is limited to actions which can legally be implemented without passing legislation.