President Obama Said that Higher education is not a luxury but it is an economic imperative that every family in America should be able to afford. President Barack Obama , In his weekly address,noted that while college education has never been more important, it has also never been more expensive. That’s why major new reforms are proposed to make college more affordable for middle class families and those fighting to get into the middle class.
The President’s bold plan would tie federal financial aid to the value and opportunity that colleges provide students, encourage innovation and competition, and help Americans manage their existing student debt by allowing everyone to cap monthly payments at 10 % of their discretionary income. The President acknowledged that these reforms won’t be popular with everyone – especially those who benefit from the status quo – but we have to shake up the current system because the path we’re on is simply unsustainable.
President said that students and families and taxpayers cannot just keep subsidizing college costs that keep going up and up. Not when the average student now graduates more than $26,000 in debt.
We cannot price the middle class out of a college education. That’s why I proposed major new reforms to make college more affordable and make it easier for folks to pay for their education.
Higher education shouldn’t be a luxury, or a roll of the dice; it’s an economic imperative that every family in America should be able to afford.
Courtesy White House