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Jason Koebler
Obama proposes cutting funding to schools that increase tuition
President Obama announced a plan to limit college tuition costs by punishing schools that don't keep prices down. The proposed funding changes were just one part of sweeping plans released by the
"We can't keep subsidizing skyrocketing tuition," he said. "Colleges and universities need to do their part to keep costs down as well ... We are putting colleges on notice -- you can't assume you can jack up tuition every single year."
According to the
The president's speech in front of a group of students at the
"The most daunting challenge can be the cost of college," he said. He urged Congress to prevent interest rates on subsidized Stafford student loans from doubling from 3.4 to 6.8 percent, as they're set to do this summer.
In recent years, the federal government has tried to make the cost of college more transparent to students and parents. The Higher Education Opportunity Act of 2008 required all colleges and universities to supply a "net price calculator" to help families estimate the cost of attending each institution. The requirement went into effect in October.
Obama proposed a "College Scorecard," a publicly available information sheet that would grade colleges based on total cost, graduation rates, and potential earnings.
Copyright © U.S. News & World Report
Obama to High-Priced Universities: 'You're on Notice'