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Obama Visits Colleges to Talk About Rising Cost of Tuition

President Obama is on the road hitting up colleges in a campaign-style bus tour to talk about the rising cost of tuition and what can be done to lower it.
President Obama is on the road hitting up colleges in a campaign-style bus tour to talk about the rising cost of tuition and what can be done to lower it.

A higher education is the single best investment you can make in your future.  President Obama is focusing on how to make that education more affordable making his way through parts of New York and Pennsylvania on a two day tour.

His first stop was the University of Buffalo...

"Our economy cannot afford the trillion dollars in outstanding student loan dept, much of which may not get repaid because students don't have the capacity to pay it.  We can't price the middle class and everybody working to get into the middle class out of college education.  We are going to have to do things differently."

Here's how the president plans to do things differently.
Start rating college's based on financial value.
The White house says the plan is based on a new ranking system to be carried out by the Department of Education.

Second, create a "pay as you earn" system for the repayment of debt.
Third, the President recommends tying academic progress to the distribution of student aid.

"We're going to make sure that students who receive financial aid complete their courses before receiving grants for the next semester.  We need to make sure if you're getting financial aid, you're doing your part to make progress towards a degree."

Those struggling to pay off debt say it's time to make a change.

"I'm trying to pay back my student loans and the interest and penalty fees have literally taken over these loans to a point where they've refused payment unless I'm willing to settle with them in an amount that I can't come up with each month."

The Republican National Committee criticized the bus tour calling Mister Obama "A lame duck president".
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