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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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  Instead of shelling out $80K for a diploma, buy a luxury car. You’ll have a place to sleep when you can’t find a job. 

  Colleges and universities want your money. They shroud their avarice in flowing gowns and ivory towers, but they are not cradling knowledge so much as they are selling sheepskin. I began my college career in a different time. It was the late '90s, and the economy was booming. I started at a junior college in California, not knowing what I wanted to do. This, coupled with the fact that I was young and restless and was paying a total of about $600 a semester, did not impel me to any sort of urgency about completing my education.More »

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