Newsmotion - College Affordability

Open for Questions: The State of the Union and Education

feed — Wed, 13 Feb 2013 21:30:56 +0000

Open for Questions: The State of the Union and Education

Wed, 02/13/2013

Today, Arne Duncan, Secretary of Education, answered questions from the public about President Obama's State of the Union Address in an “Open for Questions” session moderated by Babble. Check it out below.

Story URL:

http://www.whitehouse.gov/blog/2013/02/13/open-questions-state-union-and-educati...

Obama Administration Launches College Scorecard

feed — Wed, 13 Feb 2013 16:00:54 +0000

Obama Administration Launches College Scorecard

Wed, 02/13/2013

Editor's note: This post was originally published on the official blog of the U.S. Department of Education.

“… 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.” - President Obama, 2013 State of the Union

The interactive College Scorecard gives students and families five key pieces of data about a college: costs, graduation rate, loan default rate, average amount borrowed, and employment.

Too often, students and their families don’t have the right tools to help them sort through the information they need to decide which college or university is right for them. The search can be overwhelming, and the information from different colleges can be hard to compare.

That’s why, today, our Administration released a “College Scorecard” that empowers families to make smart investments in higher education. As the President said last night, we want to help families get the most bang for their educational buck.

The College Scorecard – as part of President Obama’s continued efforts to hold colleges accountable for cost, value and quality – highlights key indicators about the cost and value of institutions across the country to help students choose a school that is well-suited to meet their needs, priced affordably, and is consistent with their educational and career goals.

Story URL:

http://www.whitehouse.gov/blog/2013/02/13/obama-administration-launches-college-...

Year in Review: Don't Double My Rate

feed — Thu, 27 Dec 2012 17:54:38 +0000

Year in Review: Don't Double My Rate

Thu, 12/27/2012

As 2012 comes to a close, we’re looking back at some of the year’s policy milestones, including legislation President Obama signed this summer that stopped student loan interest rates from doubling for more than 7 million students.

The legislation saved young people $1,000 on average, but it was also important for another reason: it happened because of you. President Obama called on Congress to keep interest rates low on student loans, and thousands of you made your voice heard on the issue, telling Congress “don’t double my rate.”

All across the country, people like you spoke out. You raised your voices on Twitter and Facebook. You sent emails and talked to your friends and neighbors.

Story URL:

http://www.whitehouse.gov/blog/2012/12/27/year-review-dont-double-my-rate

Education Drives America

feed — Wed, 26 Sep 2012 15:57:30 +0000

Education Drives America

Wed, 09/26/2012

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For the third year in a row, our team at the U.S. Department of Education has gone on a back-to-school bus tour. This year was more ambitious than ever. Senior leaders traveled from coast-to-coast and have participated in almost 100 events over the past 10 days.

It started on Sept. 12 with a town hall meeting about the potential of technology to transform learning in Redwood City, Calif., and ended with a rally at the Department of Education headquarters in Washington, DC. Across the country, I’ve seen examples of communities in Topeka, Kansas, and McDowell County, West Virginia, coming together to turn around struggling schools. I met with Hispanic students in Reno, Nevada, to discuss how a college degree will help ensure their economic prosperity. And I visited a school in Denver that takes nutrition and student health seriously. They even got me to dance.

Vice President Discusses College Affordability with College and University Officials

feed — Tue, 05 Jun 2012 22:55:26 +0000

Vice President Discusses College Affordability with College and University Officials

Tue, 06/05/2012

Vice President Joe Biden holds a meeting on transparency in college costs with Secretary of Education Arne Duncan and college presidents, in the Roosevelt Room of the White House, June 5, 2012. (Official White House Photo by David Lienemann)

Today, Vice President Biden met with the presidents and senior officials of ten colleges, universities, and state systems of higher education from across the country to discuss the importance of providing students and families with transparent information about the cost of attendance and financial aid. Secretary Duncan, Director of the Consumer Financial Protection Bureau Richard Cordray, and Director of the White House Domestic Policy Council Cecilia Muñoz also participated in the discussion.

Post-secondary education is a valuable investment – more than 60 percent of new jobs in the next decade will require a credential beyond a high school diploma. But before settling on a school and signing any loan agreements, students and their families need easy-to-understand information regarding how they will finance their education. Colleges and universities already provide some statistics about the cost of attendance and available financial aid, but that information is often not clearly presented to students and their families in a way that facilitates easy comparison among schools. Further, schools usually do not provide important information including an estimate of students’ future loan payments, or data about the likelihood of graduation or loan default.

By the Numbers: $26,000

feed — Tue, 05 Jun 2012 19:20:09 +0000

By the Numbers: $26,000

Tue, 06/05/2012

Today’s college students graduate with an average of $26,000 in student loan debt. A quality higher education is a sound investment, and it’s never been more important. In fact, two out of every three new jobs requires some postsecondary education.

At the same time, college has never been more expensive. About two-thirds of today’s bachelor’s degree recipients borrow money to pay for their education. President Obama is committed to making college more affordable, and a key piece of his plan to make this goal a reality is by requiring improved information and transparency about college costs and value.

Better information gives students and their families the ability to make informed decisions about choosing a school that is best suited to their financial and educational goals. Too often, students and families face confusion when comparing financial aid packages, some of which do not clearly differentiate loans from grants, nor distinguish private vs. federal loans, making it difficult to compare aid offers side-by-side.

Republicans Vote to Block Student Loan Bill

feed — Tue, 08 May 2012 20:21:30 +0000

Republicans Vote to Block Student Loan Bill

Tue, 05/08/2012

Today, Senate Republicans blocked legislation that would have prevented interest rates on student loans from doubling at the end of June.

In a statement to reporters, Press Secretary Jay Carney expressed his dissatisfaction with the vote:

It is extremely disappointing that Republicans in the Senate today voted to ask millions of students to pay an average of $1,000 each in order to protect a loophole that allows millionaires to dodge payroll taxes. On July 1, more than 7.4 million students across the country will see their interest rates double unless Congress acts. We’re pleased that despite failing to address it in their budget, Republicans in Congress now profess to be concerned about this coming rate hike. But now it’s time for them to stop refighting old political battles and prove they’re serious by proposing a real solution to keep rates low for students without burdening middle class families or undercutting preventive health care for women. We look forward to continuing to work with Congress to prevent rates from doubling and ensure that students continue to get a fair shot at an affordable education.

President Obama Joins Elected Officials and Student Leaders to Urge #DontDoubleMyRate

feed — Tue, 08 May 2012 00:13:25 +0000

President Obama Joins Elected Officials and Student Leaders to Urge #DontDoubleMyRate

Tue, 05/08/2012

This afternoon, President Obama joined elected officials and student leaders from colleges and universities across the country on a phone call to discuss the effort to prevent interest rates on more than 7 million students’ loans from doubling on July 1, unless Congress takes action.

During the call, mayors, governors and other officials were joined in their offices by local students to hear the President’s message and they tweeted out messages to echo his call to keep college affordable for all Americans. You can see photos from those on the call below or at Storify.com.

Learn more about the President’s efforts here and join in the conversation on Twitter with the hashtag #DontDoubleMyRate.

President Obama Continues Push Against Rate Increases for Student Loans

feed — Fri, 04 May 2012 21:02:43 +0000

President Obama Continues Push Against Rate Increases for Student Loans

Fri, 05/04/2012

President Barack Obama delivers remarks on interest rates on student loans and affordable higher education, at Washington-Lee High School in Arlington, Va., May 4, 2012. (Official White House Photo by Chuck Kennedy)

Today, President Obama continued his push to prevent interest rates on students loans from doubling on July 1 -- as they're currently scheduled to do.

Unless Congress takes action, more than 7 million students around the country will rack up an average of $1,000 of extra debt each.

In a speech today at Washington Lee High School in Arlington, Virginia, the President told students and parents that education has become more than a luxury.

"[It] is an economic imperative that every American should be able to afford," he said.

The Obama administration has taken a number of steps that to keep higher education within reach of the middle class -- including reforming the student loans system and using the savings to help more people afford college.

But it's going to take Congress to keep interest rates on federal student loans from doubling, and today, the President called on lawmakers to act: