Tuesday, February 12, 2013

President tells nation "taxpayers cannot continue to subsidize" the high-cost of college tuition

During tonight's State of the Union address, the President spoke about the high cost of college tuition with obvious implications for the continued federal subsidy of student loans to attend law school.  With respect to colleges, the President asked Congress to implement changes in the way federal aid is awarded based on the "affordability and value" of the recipient institutions. Below is the relevant excerpt of tonight's speech courtesy of Politico.com followed by a video of the entire SOTU address.

Through tax credits, grants, and better loans, we have made college more affordable for millions of students and families over the last few years.  But taxpayers cannot continue to subsidize the soaring cost of higher education.  Colleges must do their part to keep costs down, and it’s our job to make sure they do.  Tonight, I ask Congress to change the Higher Education Act, so that affordability and value are included in determining which colleges receive certain types of federal aid.  And tomorrow, my Administration will release a new “College Scorecard” that parents and students can use to compare schools based on a simple criteria: where you can get the most bang for your educational buck. 



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