WASHINGTON, DC— In his weekly address, President Obama noted that while college education has never been more important, it has also never been more expensive. That’s why the President proposed major new reforms to make college more affordable for middle class families and those fighting to get into the middle class. The President’s bold plan would tie federal financial aid to the value and opportunity that colleges provide students, encourage innovation and competition, and help Americans manage their existing student debt by allowing everyone to cap monthly payments at 10 percent of their discretionary income. The President acknowledged that these reforms won’t be popular with everyone – especially those who benefit from the status quo – but we have to shake up the current system because the path we’re on is simply unsustainable.
Watch video address: