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Saying a college education is the "surest path to the middle class," President Obama announced a plan Thursday to allocate federal aid to colleges and universities based in part on their affordability.
Speaking at the University at Buffalo, State University of New York, the president said that over the last 30 years, there's been a 250 percent increase in the cost of higher education, while at the same time incomes have risen just 16 percent. Meanwhile, he said, the states have cut back dramatically on their allocations for higher education.
"The average student who graduates from college owes $26,000, some more than that," he said.
Obama outlined three main goals of the new system, the linchpin of which is a rating system that would judge institutions of higher learning "not just by which is the most selective, not just by which is the most expensive, not just by the one with the best facilities," he said, "but by the one that is the biggest bang for the buck."
He said under his plan, colleges "are not going to be increasing tuition year after year and passing it along to students and parents."
On Martin Bashir’s Thursday MSNBC program, New York Democratic Rep. Charles Rangel said that no students should have to pay for college.
Rangel was reacting to President Barack Obama’s higher education proposal rollout that would put in place requirements for students and institutions to receive federal financial aid assistance.
Rangel explained to fill-in host Joy Reid that he support Obama’s plan, particularly the accountability components.
“I think it’s exciting, and certainly it’s going to bring in accountability,” he said. “You know, we have universities scattered all over the world. Sometimes you think that tuition means nothing to a large group of people who pay these enormous salaries to college presidents. But if you’re talking about production, if you’re talking about what is the college really giving someone that doesn’t want a worldwide education, they just want to be able to compete. This makes sense.”(continued)
Rangel, however, told Reid those reforms alone weren’t enough and would offer college to Americans for free.
I hear the best way to stop the inflation of education costs is to stop inflation itself.
Restore Gold and Silver Coin today!
Pick an economist just about any economist, left, right or center and see what happens when you suggest that the United States should return to the gold standard. Unless your chosen wonk happens to be of the ultra-conservative Austrian persuasion, the most likely response will be a sigh and an eye-roll. For the vast majority of the field, the inadvisability of running a modern advanced economy on the gold standard is settled science. Its a bad idea.
The gold standard delusion - Salon.com
President Unveils Plan To Boost College Affordability
President Unveils Plan To Boost College Affordability : The Two-Way : NPR
by Scott Neuman
August 22, 201312:38 PM
Saying a college education is the "surest path to the middle class," President Obama announced a plan Thursday to allocate federal aid to colleges and universities based in part on their affordability.
Speaking at the University at Buffalo, State University of New York, the president said that over the last 30 years, there's been a 250 percent increase in the cost of higher education, while at the same time incomes have risen just 16 percent. Meanwhile, he said, the states have cut back dramatically on their allocations for higher education.
"The average student who graduates from college owes $26,000, some more than that," he said.
Obama outlined three main goals of the new system, the linchpin of which is a rating system that would judge institutions of higher learning "not just by which is the most selective, not just by which is the most expensive, not just by the one with the best facilities," he said, "but by the one that is the biggest bang for the buck."
He said under his plan, colleges "are not going to be increasing tuition year after year and passing it along to students and parents."
I'd think making more "colleges" compete for your business would lower the cost. Well, this could help slow down the raise of tuition as the lower costing colleges get the money.
Just an empty speech.
