Obama unveils plan that aims to make college more affordable
WASHINGTON (REUTERS) - US President Barack Obama on Thursday proposed a new plan to tackle soaring higher education costs with a system that would rate colleges and universities based on their value for the money students spend and tie those ratings to disbursement of federal student aid.
The president, who has spent much of the summer trotting out new ideas to rev up the economy, will unveil his proposals at the start of a campaign-like bus tour through New York and Pennsylvania that will include speeches and a question-and-answer session with students.
Tuition costs at US colleges and universities have been skyrocketing, forcing students and families to take on more debt to afford a college degree.
The average cost of in-state tuition and fees for 2013 at four-year public universities was US$8,655 (S$11,100), up 4.8 per cent from 2012, according to a survey from the College Board released this month.