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Obama proposes financial aid overhaul that would tie colleges’ eligibility for campus-based aid programs to success in improving affordability and value
Under the plan, which the president outlined on Friday morning in a speech at the University of Michigan, the amount available for Perkins loans would grow to $8 billion, from the current $1 billion. The president also wants to create a $1 billion grant competition, along the lines of the Race for the Top program for elementary and secondary education, to reward states that take action to keep college costs down, and a separate $55 million competition for individual colleges to increase their value and efficiency.
The administration also wants to give families clearer information about costs and quality, by requiring colleges and universities to offer a “shopping sheet” that makes it easier to compare financial aid packages and — for the first time — compiling post-graduate earning and employment information to give students a better sense of what awaits them.
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kris is discussing.
kris 5:13 pm on January 29, 2012 Permalink |
I saw this and thought it was an interesting solution – by what just Perkins – why not a bigger program like Stafford loans?
Also – the “affordability” thing seems too vague. Why not say colleges can only charge a certain % of some index or can only tie tuition increases to inflation or something?
I feel like I’m picking on this. I do think it’s maybe the start of a solution, but I wish it was taken further.