Obama proposes to tie student aid to college affordability

posted at 11:40 am on January 27, 2012 by Tina Korbe

Since his State of the Union address, President Barack Obama has been campaigning in touring five battleground states. His final stop on that tour comes today. At a rally at the University of Michigan, the president plans to unveil a plan to increase federal “investment” in the Perkins loan program — from $1 billion to $8 billion — and to revamp the formula for distributing the money. The Washington Post has a few more details:

Under the plan, colleges would be rewarded based on their success in offering relatively lower tuition prices, providing value and serving low-income students, the White House said.

The plan would not cost taxpayers additional dollars because students pay off the aid money with interest, officials stressed.

The administration also is proposing to create a competition that provides $55 million in start-up funding for higher education institutions to pursue innovation to boost productivity.

At first glance, the reformation of the distribution formula, at least, sounds like a decent idea, but coupling that reformulation with increased “investment” into the Perkins loan program is uncalled for at this point. While the administration stresses that students pay the loans back with interest, that’s no reason to spend more now when we can ill afford it — especially given the government’s demonstrated willingness to forgive student loan debts. Why not attempt the reform of the distribution formulation without increasing overall investment in the program?

Furthermore, the fact that the program has to be reformed because it presently provides perverse incentives to keep college costs high just underscores why the federal government shouldn’t be in the student loan business in the first place: The federal government’s continued push to grant students low-interest college loans (based on the flawed premise that everybody should go to college) has swelled demand for a college education, which has in turn swelled tuition prices. Higher tuition prices means students have to borrow even more. Sound familiar? The education industry is sitting on a bubble, just like the housing market was. That bubble needs to burst. Investing more federal dollars into a student loan program — even if the investment is intended to create incentives to lower costs — isn’t the way to reform it.


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College tuition to go up 800%

Serious facepalm…

Beware the government-education complex!

tom daschle concerned on January 27, 2012 at 11:42 AM

Decrease federal financial aid limits and decrease tuition. Simple as that.

besser tot als rot on January 27, 2012 at 11:42 AM

Bishop?

Bmore on January 27, 2012 at 11:43 AM

Answering Occupiers’ demands.

Obama created the Occupy “movement”.

faraway on January 27, 2012 at 11:43 AM

Obama Signs Global Internet Treaty Worse Than SOPA

White House bypasses Senate to ink agreement that could allow Chinese companies to demand ISPs remove web content in US with no legal oversight

Link gets caught in the mill…but the essence is in the exerpt.

He loves China more than you. Vote for him again, fools.

Schadenfreude on January 27, 2012 at 11:45 AM

Maybe Ron Paul had the answer to this in last nights debate.

Tater Salad on January 27, 2012 at 11:48 AM

Too many students take majors that ont pay. A good reform would tie loan amount or accessibility to the selected major. Engineers should be preferred over the Humanities for example.

Charlemagne on January 27, 2012 at 11:49 AM

Under the plan, colleges would be rewarded based on their success in offering relatively lower tuition prices, providing value and serving low-income students, the White House said.

The plan would not cost taxpayers additional dollars because students pay off the aid money with interest, officials stressed.

WHAT OBAMA HASN’T TOLD “STUDENTS”:

Their interest rates on those Perkins’ Loans have ballooned under Obama’s misguided, evil reworks.

Obama talks a very big game but the reality of who he is and what he is ACTUALLY doing is there for the more curious and industrious to see and grasp, if they apply themselves. Obama is a hustler of the worst kind.

Lourdes on January 27, 2012 at 11:49 AM

Idiots. You tie it to the degree chosen.

rogerb on January 27, 2012 at 11:49 AM

The dirty little secret no one ever wants to talk about is that “low-income” students (and what Obama really means here are minority students) choose soft majors that do not lead to intellectual growth or gainful employment. There was a study out earlier this week that showed that nearly 100% of students admitted to colleges under the policy (which we aren’t allowed to name here but it is two words and they each start with A) who had indicated a STEM major had switched to a soft major by their second year. They weren’t prepared for the math or science courses, couldn’t cut it, so switched to “sociology” or “psychology” or some other such nonsense “major.”

The GOP candidate ought to come back with, “Yeah, let’s find ways to make STEM majors more affordable — but America currently has a glut of ‘sociologists’ and ‘psychologists’ and doesn’t need any more.”

The truth is that if you are a minority student who takes four years of rigorous math and science in high school, and scores well on the ACT/SAT, the top 25 colleges will fall over themselves fighting with each other to offer you a free education. The problem isn’t cost – it is readiness.

Rational Thought on January 27, 2012 at 11:50 AM

As a U of M student paying $20k a year for books and tuition, I would love to see that go down. This isn’t going to do it.

Russell28 on January 27, 2012 at 11:50 AM

More subsidizing of college education? Do they want even higher tuition? Never mind, we already know the answer to that.

Doughboy on January 27, 2012 at 11:51 AM

Wait, I’ve heard this one before, I think…

Under the plan, banks would be rewarded based on their success in offering relatively lower mortgage prices, providing value and serving low-income people, the White House said.

The Rogue Tomato on January 27, 2012 at 11:51 AM

If the word “Investment” is used in any sentence…
It is an election year and none of the kids that voted for him have jobs yet…he needs a new crop!

KOOLAID2 on January 27, 2012 at 11:51 AM

You can’t swing a dead cat in any town with 3,000 people or more and not hit this or that ‘university,’ technical school, business college, etc.

We need more institutions like we need more TSA agents. It’s simply a way to funnel more cash to the NEA and its allies.

jangle12 on January 27, 2012 at 11:51 AM

Too many students take majors that ont pay. A good reform would tie loan amount or accessibility to the selected major. Engineers should be preferred over the Humanities for example.

Charlemagne on January 27, 2012 at 11:49 AM

It’s because too many people enroll in college who shouldn’t.

Under Barack Obama’s ridiculous plans, even more people who aren’t qualified or don’t fit are being urged or even “required” to attend college, who can’t afford it, won’t pay for it themselves, can’t compete well if at all and would be far better served (themselves and our society in general) if they attended some sort of training/educational path that wasn’t college instead of attending college, taking dummy courses simply so they can graduate and then can’t pay for them nor find work afterward.

To compete, more people should be encouraged to seek training in various trades that they can earn good incomes from and find work in with more assurance than now.

Obama is misdirecting people, to no one’s surprise, with his stupid ideas.

Lourdes on January 27, 2012 at 11:52 AM

Well Mr. President,

This may come as a shock to you given you are a beneficiary of affirmative action quotas and have not had to work for your education BUT not every American is college material. Instead of pandering to the commies of Ann Arbor, perhaps a better education investment would be in providing students other options than college. Perhaps you should worry about the quality of the inner-city schools- you know the places where parents who can not afford to drop $64K a year for an exclusive private school send their kids.

Happy Nomad on January 27, 2012 at 11:52 AM

I’d rather tie student aid to Barky’s resignation. At least that way the US gets some benefit out of inflating school costs for sub-par educations for many people who have no business being in college – such as Barky, who clearly did not have even half the brain required to make college a worthwhile purtsuit. But, at least, barky filled some quotas for the schools, which is pretty much all they’re about these days, anyway.

ThePrimordialOrderedPair on January 27, 2012 at 11:53 AM

Tie student loans to the student’s major field of study. Getting a major in engineering, math, physics, or another field that will ensure a lucrative job when you’re done? Fine. You’ll get a good loan with affordable rates because you’re a good risk.

Studying trans-gendered eco-feminist architectual history of Western Peru?

You get squat. We’re not here to underwrite your fun and games. Pay for the crap yourself.

Kill two birds with one stone that way. Brain-dead liberal students either have to learn something real or pay for that nonsense themselves. Brain-dead liberal teachers suddenly find their crap-based courses with the easy A for spouting liberal talking points are no longer in demand.

Welcome to the real world kiddies.

PackerBronco on January 27, 2012 at 11:53 AM

More free stuff and another voting block box checked. Who hasn’t gotten their sugar yet?

GeorgieGirl9 on January 27, 2012 at 11:54 AM

LIAR !! Its all about him and only him …

Cincy Conservative on January 27, 2012 at 11:54 AM

Just like medicine. As long as someone else is paying, (insurance) the cost just keeps increasing. Today’s college diploma is in too many instances not worth the cost.

they lie on January 27, 2012 at 11:56 AM

Maybe if Barrrraaacckk would put his grades and his thesis, and writings out from his education we can realy see what he thinks … Like that will happen

Cincy Conservative on January 27, 2012 at 11:56 AM

Tie student loans to the student’s major field of study. Getting a major in engineering, math, physics, or another field that will ensure a lucrative job when you’re done? Fine. You’ll get a good loan with affordable rates because you’re a good risk.

Studying trans-gendered eco-feminist architectual history of Western Peru?

You get squat. We’re not here to underwrite your fun and games. Pay for the crap yourself.

Kill two birds with one stone that way. Brain-dead liberal students either have to learn something real or pay for that nonsense themselves. Brain-dead liberal teachers suddenly find their crap-based courses with the easy A for spouting liberal talking points are no longer in demand.

Welcome to the real world kiddies.

PackerBronco on January 27, 2012 at 11:53 AM

Perfectly said. Banks don’t give $500,000 loans for $50,000 houses. Why should the taxpayer? The GOP candidate has a real opportunity here to turn this conversation back on the community organizer in a big way. I hope he takes it.

Rational Thought on January 27, 2012 at 11:56 AM

Obama is trying to frame or redefine college as a camp. “Everyone deserve to go to camp, where you’ll be fed, clothed, housed and entertained for four years without too much need to do your own laundry or run too much, TV and WII at every hour after noon.”

It’s pitiful that a man in Obama’s position would be demanding that “everyone’s the same,” because everyone isn’t the same and if we were, we’d all have 85 IQs, which I believe is the average human IQ.

Lourdes on January 27, 2012 at 11:57 AM

I went to college for like – five days or something. It wasn’t for me.

But … some of you “smart guys” – please enlighten me …

Why in the hell does a degree in “Women and Gender Studies” cost the same as a degree in Electrical Engineering from the same college? What kind of “supply and demand” system is THAT based on? One degree is Volkswagen Beatle – and the other is a Mercedes – yet they both cost the same? Kind of ridiculous if you ask me.

Why do Professors in “Women and Gender Studies” (and other “basket weaving” degrees) get paid the same as a Professor teaching physics? I’ve hired people for my company before – and, I’m sorry – but the big bucks go to the guys who have skills that are in short supply and I have to COMPETE with other companies for. Seems to me that the physics professor should get paid MORE.

No wonder the colleges all teach socialism – they’re all based on a socialist model where everyone is equal – when they clearly aren’t.

HondaV65 on January 27, 2012 at 11:57 AM

As a U of M student paying $20k a year for books and tuition,

Russell28 on January 27, 2012 at 11:50 AM

Yeah … that’s highway robbery. The book prices alone are enough to qualify as “gouging a captive consumer” more than anyone selling bottles of water for $10 during disasters. At least the water sellers are actually putting a fair price on a useful and necessary product. Higher education is, for the most part, unnecessary and useless (for about 80% of the courses pursued).

The price of education should be cratering, right now, as all the information people need is available to everyone, all the time, for NOTHING on the internet. But, the government has moved in to insure that school prices continue to rise faster than inflation even when everything that goes into schooling is in a deflationary environment, getting cheaper and cheaper.

ThePrimordialOrderedPair on January 27, 2012 at 11:57 AM

To compete, more people should be encouraged to seek training in various trades that they can earn good incomes from and find work in with more assurance than now.

Exactly. There are a lot of blue-collar jobs that pay well that are going unfilled because we have created a stigma around jobs that require hands. Meanwhile kids graduate with useless degrees and complain that they can’t find work.

My father-in-law looked for over a year for a good machinist, salary $50k, and couldn’t find anyone for the job.

Charlemagne on January 27, 2012 at 11:58 AM

I’m tired of sending other people’s kids to college when i can’t afford to send my own. Government needs to GET OUT of education and leave us alone. It’s government interference which has caused this bubble to begin with.

Murf76 on January 27, 2012 at 11:58 AM

Under the plan, colleges would be rewarded based on their success in offering relatively lower tuition prices, providing value and serving low-income students, the White House said.

Hmmm, banks and mortgages sound familiar? Once again its all about economic and social justice as defined by liberals.

dmann on January 27, 2012 at 11:59 AM

Maybe if Barrrraaacckk would put his grades and his thesis, and writings out from his education we can realy see what he thinks..,

Cincy Conservative on January 27, 2012 at 11:56 AM

My sentiments, exactly.

With every passing statement by Obama, I am more and more assured that his academic record contains a great deal of mush. We should all demand he provide his records to the public as long as he’s demanding we the nation modify education to accommodate degradation of intellect and accomplishment.

Lourdes on January 27, 2012 at 11:59 AM

Screw the “incentives”! Since when was this TOOL all about incentivizing ANYTHING. REGULATE the frickin University system! Tell the higher education what they should charge. This will give the universities some “reality”.

Speaking of his Tour of the five states: His Stop in Colorado was all of 40 minutes. He hopped out of AF1, into the hanger, speech, and then back in he went. That was some campaign stop. /sarc

mr_west on January 27, 2012 at 12:00 PM

Gads, how I wish bho would get a major case of diarrhea to keep in at the wh, and I don’t mean of the mouth, he already has that! I am so sick of him out daily giving away taxpayers money to every tom, dick, and tina!
L

letget on January 27, 2012 at 12:01 PM

Obama is campaigning these days on college campuses, in union halls, and the inner city — and every step of the way he is making promises he cannot keep. His electorate is shrinking by the day, and his team is deeply insecure that even his base is going to show up if they aren’t bribed, but he’s paying the bribes with counterfeit. I like this. He is an incumbent in trouble. Big trouble.

Oh, and here’s a contrast:

Obama: I’ma gonna help pay for your college!

GOP candidate: I’ma gonna make sure there’s a high-paying job for you when you graduate!

Rational Thought on January 27, 2012 at 12:03 PM

Let the season of ice cream promises begin.

Speakup on January 27, 2012 at 12:06 PM

The plan would not cost taxpayers additional dollars because students pay off the aid money with interest, officials stressed.

Just like homeowners that have no business owning a home pay off their government inflated mortgages so that the Fanny and Freddie guaranteed loans cost tax payers no money…

NotCoach on January 27, 2012 at 12:06 PM

Screw the “incentives”! Since when was this TOOL all about incentivizing ANYTHING. REGULATE the frickin University system! Tell the higher education what they should charge. This will give the universities some “reality”.

Really? Price controls? BTW, do you know why universities keep raising rates well above the rate of inflation? Hint: Government guaranteed loans.

NotCoach on January 27, 2012 at 12:08 PM

Mitt last nite chastized Newt over overpromising ..Just like Barrraaackkkk… It cannot be done anymore … Barraaackkk has spent us into bankruptcy

Cincy Conservative on January 27, 2012 at 12:08 PM

Will the Candy Man- ever run out of Candy ???????

FlaMurph on January 27, 2012 at 12:09 PM

Will the Candy Man- ever run out of Candy ???????

FlaMurph on January 27, 2012 at 12:09 PM

Not as long as he isn’t the one paying for it. I’m sick and tired of these criminals being so generous toward their cronies and campaign backers with my money!

Happy Nomad on January 27, 2012 at 12:13 PM

I don’t take the president seriously. This is a campaign tactic and nothing more. When you consider that student faculty ratios are about 12:1 the president realizes he has far more to gain in (supposedly) championing a white, middle-class issue than he has to lose among academics. Besides, how many liberal college faculty and administrators is he likely to lose?

vamoose on January 27, 2012 at 12:14 PM

I went to a private liberal arts college. Comprehensive fee in 1981 (when I entered) was about 8000. If we had normal inflation, the cost now would be about 19,000. The actual cost at ol’ alma mater? About 40,000. That’s the issue.

Mr. D on January 27, 2012 at 12:15 PM

Anyone know if their is a statistic tying the level of those who are accepted to college and the inability to go due to lack of funds???

In my 39 years, I have yet to meet someone who couldnt go to college, perhaps couldnt afford a top school and had to switch choices (I got accepted to Dartmouth, though zero aid – selected a State school) – but again – when have you heard somoen say “I had good grades, work wethic, all the requirements – but just couldnt make it work”

Community college, tech schools, online, etc are all viable launching point choices to achieve a degree of choice, while the ability to afford it.

Everything in the world is tied to your income, unless you are a Democrat or liberal. It’s called basic responsibility and common sense.

Odie1941 on January 27, 2012 at 12:15 PM

Really? Price controls? BTW, do you know why universities keep raising rates well above the rate of inflation? Hint: Government guaranteed loans.

NotCoach on January 27, 2012 at 12:08 PM

NotCoach, I was kidding.

mr_west on January 27, 2012 at 12:18 PM

[Eliminate] Decrease federal financial aid limits and decrease tuition. Simple as that.

besser tot als rot on January 27, 2012 at 11:42 AM

Fixed.

Scrutineer on January 27, 2012 at 12:18 PM

Sixteen concerned scientists: There’s no need to panic about global warming

Maybe Obama reads the news, that could also explain his “all of the above” speech.

The pinks are really going down hard on this green agenda boondoggle.

Dr Evil on January 27, 2012 at 12:20 PM

Sorry wrong thread.

Dr Evil on January 27, 2012 at 12:20 PM

NotCoach, I was kidding.

mr_west on January 27, 2012 at 12:18 PM

My bad.

NotCoach on January 27, 2012 at 12:20 PM

Let the bubble burst, more students will attend technical schools where they will learn skills needed to perform jobs, instead of being indoctrinated for 4 years

thePunditz on January 27, 2012 at 12:20 PM

You know, I bet if we got the government out of backing student loans and putting regulations on them, that banks would then look at the ability of someone to repay a loan based on what they want to study… and then the person asking for the loan could look for a college they might be able to afford after researching the degree they want to get… instead we subsidize a punch ticket through college and those with a degree expect it to be a meal ticket guaranteed because they ‘graduated’.

Yet another case of less government leading to a better situation.

The regulations have failed, so it is time to step away from regulating things and backing them with taxpayer cash.

ajacksonian on January 27, 2012 at 12:21 PM

The plan would not cost taxpayers additional dollars because students pay off the aid money with interest, officials stressed.

State universities lowering tuition to students will generally mean state universities getting more state taxpayer support, no?
So the idea that it won’t cost taxpayers additional dollars seems a bit questionable. It will just shift the burden.

MayBee on January 27, 2012 at 12:21 PM

Anyone know if their is a statistic tying the level of those who are accepted to college and the inability to go due to lack of funds???

In my 39 years, I have yet to meet someone who couldnt go to college, perhaps couldnt afford a top school and had to switch choices (I got accepted to Dartmouth, though zero aid – selected a State school) – but again – when have you heard somoen say “I had good grades, work wethic, all the requirements – but just couldnt make it work”

Community college, tech schools, online, etc are all viable launching point choices to achieve a degree of choice, while the ability to afford it.

Everything in the world is tied to your income, unless you are a Democrat or liberal. It’s called basic responsibility and common sense.

Odie1941 on January 27, 2012 at 12:15 PM

My son has a few friends who had an unemployed parent when they were applying to colleges and could not even go to our flagship state U. because they could not afford it. They are in community college though.

I have been terrible at saving money and managing what I have over the years, but I had enough sense to start college savings plans for my kids when they were little. Without that, my son would not be in college now as I was unemployed for three years.

I have plenty of sympathy for people who were too poor to save for their kids to go to college and never anticipated the kind of rampant tuition inflation we have seen. But most middle- to upper-class people had plenty of ways to save and still have plenty of ways to finance college.

rockmom on January 27, 2012 at 12:29 PM

If you don’t throw money at a problem, how are you going to prove you care. Besides, if it actually makes the problem worse there will be more opportunities to reform it in the future.

/Progressive playbook

WhatNot on January 27, 2012 at 12:32 PM

State universities lowering tuition to students will generally mean state universities getting more state taxpayer support, no?
So the idea that it won’t cost taxpayers additional dollars seems a bit questionable. It will just shift the burden.

MayBee on January 27, 2012 at 12:21 PM

Exactly. Colleges in Pennsylvania are screaming about tuition increases, but Gov. Corbett and the GOP legislature decided that it was stupid to raise taxes on everyone in order to keep subsidizing college. It’s still a bargain compared to private college or out of state schools.

rockmom on January 27, 2012 at 12:32 PM

Too many students take majors that ont pay. A good reform would tie loan amount or accessibility to the selected major. Engineers should be preferred over the Humanities for example.

Charlemagne on January 27, 2012 at 11:49 AM

Good point. Take a look at Mega Mac. If her mother wasn’t the “Beer Baroness” and in a position where she can make good money bashing conservatives, she would be a couple hundred thousand in debt and have a totally useless degree (art history).

Yahoo News had an article about 88,000 earning fashion design degrees in 2008-09 and there only being 23,000 fashion design jobs available nationally.

bw222 on January 27, 2012 at 12:33 PM

Should anyone be surprised?

The cost of higher education has been skyrocketing as a direct result of the economic interference of the Federal Government.

And right on cue, Oblowhard is not letting a (self-inflicted) crisis go to waste. The only solution to a govermnent caused problem is to implement a larger government solution.

And the proles eat it up.

turfmann on January 27, 2012 at 12:34 PM

For every single stupid thing that Obama does, Ron Paul is the only one with the RIGHT answer. NOT Newt (Mr. Occupy the moon), NOT Romney (Mr daddy paid for Harvard, but I inherited nothing)

But what do I know…

Can.I.be.in.the.middle on January 27, 2012 at 12:35 PM

The dirty little secret no one ever wants to talk about is that “low-income” students (and what Obama really means here are minority students)

Are you nuts? Do you live in some fantasy world where only non-white people are poor in this country? I swear I can’t get you people. You complain about race card, race card, race card and you pull that sucker all the time!

libfreeordie on January 27, 2012 at 12:38 PM

(which we aren’t allowed to name here but it is two words and they each start with A)

Rational Thought on January 27, 2012 at 11:50 AM

Are you serious? Is HotAir that politically correct?

SirGawain on January 27, 2012 at 12:41 PM

Under the plan, colleges would be rewarded based on their success in offering relatively lower tuition prices, providing value and serving low-income students, the White House said. continuing to brainwash their students so they can continue to choke down their sorry socialist agenda and not ask any questions..and vote Democrat.

BigWyo on January 27, 2012 at 12:41 PM

Full professors in business earn well over $100k – not bad for 10 months a year and about 20 hours a week.

http://www.aacsb.edu/datadirect/samples/salary-survey-exec-summary-09-10.pdf

bw222 on January 27, 2012 at 12:42 PM

In the immortal words of Judge Smails: “The world needs ditch diggers too.”

BigWyo on January 27, 2012 at 12:45 PM

There is a big difference between what a state run university and a private university CAN and SHOULD do.

Obama is visiting a State university today, but I am not clear that he is making a distinction. A lot of the strings attached to Pell grants etc. are forced on the private schools.

$8 billion added to the Perkins program will only be wasted unless state universities first put in place more rigorous entrance standards, otherwise, they are going to fall into the other end of this trap, which is that the federal government will expect them to have programs that turn kids who did not do well in high school, and could not pass the 525 basic threashold on the SAT’s into Rocket Scientists. Can’t be done.

The Obama takeover of student loans has made them more expensive, prohibitively so for those who actually pay the loans off themselves, and their parents.

Middle Class families are NOT benefiting they are paying for others thru the interest going to the government now, instead of just paying for the cheap money the government had access to.

The prime rate is around 2% on my old Pre Liberals in charge Student loans, but they are charging in the range of 8% when the government is the beneficiary.

This needs exposure immediatly. No more of this REFORM, it goes in the wrong direction.

Fleuries on January 27, 2012 at 12:47 PM

rockmom on January 27, 2012 at 12:29 PM

We all struggle based ont hat personal income – but kudos to you for the college fund.

The reality is – the “poor” can go to most schools with some legwork for financial aid, whether federal, state, private alternatives.

As youorrectly mentioned – the kid whos parents had a rough go may end up at community college – but in most states, an Associates degree from any state community college automatically allows you to be accepted to a State schools 4 year program – and if you do well, it will be funded by grants/scholarship/proven track record with a degree.

I paid and worked throughout colelge – and was one of the “poorer” dudes out of my group. Most got a check written and a monthly parent stipend… oddly enough – out of 15 “core guys” – 8 of us ended up with a degree in hand… 6 of which were closer to my income situation.

But I can promise you – eating ramens 7 days a week and the occasional “chicken” added to it, whilst drinking $5 a case beer teaches you to never go back to that again

The long winded point I was trying to make – this cliche vote-pandering nonsense has nothing to do with the inability of kids to afford a college within their income means.

Odie1941 on January 27, 2012 at 12:47 PM

NotCoach, I was kidding.

mr_west on January 27, 2012 at 12:18 PM
My bad.

NotCoach on January 27, 2012 at 12:20 PM

I would have done the same thing had I read it that way too! I will try to be better about that. LOL

We are on the same sheet of music. There needs to be something done with Government guaranteed loans. I hate the fact the Universities are not concerned about real world Cost vs Demand.

mr_west on January 27, 2012 at 12:48 PM

I went to college and, Tina’s right: Not everybody should go to college. Many of my classmates proved that adage daily.

HornHiAceDeuce on January 27, 2012 at 1:03 PM

Yeah … that’s highway robbery. The book prices alone are enough to qualify as “gouging a captive consumer” more than anyone selling bottles of water for $10 during disasters…

ThePrimordialOrderedPair on January 27, 2012 at 11:57 AM

Youngest son going back to school at a local community college signed up for a number of courses including a geometry class. His geometry book cost $177 and there were no used books for sale at the time.

Very few books cost as much as $177 in a regular bookstore. Governor Brewer’s book Scorpions for Breakfast is going for $15.59 on Amazon. Just sayin’…

Fallon on January 27, 2012 at 1:04 PM

But if tuition goes down, how will they afford to pay professors 6 figure incomes to teach kids about the evils of being rich?

John Deaux on January 27, 2012 at 1:04 PM

My children are 3 and 1 and I’m not even bothering to save a dime for college.

I know about the education bubble, but our “brilliant”, “progressive” president is as usual, hopelessly stuck in the 1960s.

More wasted money after wasted money. Idiot leftist.

NoDonkey on January 27, 2012 at 1:04 PM

The last paragraph in this is phenomenal. You won’t admit it but Ron Paul and his “rambling” about the Fed and the business cycle is mainstream. I’m glad at that fact.

Kaasproav on January 27, 2012 at 1:05 PM

BigWyo on January 27, 2012 at 12:45 PM

My High School chemistry teacher always said that too. I didn’t realize where that came from.

earlgrey133 on January 27, 2012 at 1:11 PM

This calls for College Affordability CZAR!!!

albill on January 27, 2012 at 1:16 PM

I’ll admit that I would applaud the government forgiving my federal student loans. If not, I’ll continue to pay as per my commitment. But having a couple hundred bucks extra each month in my pocket would probably stimulate the economy more than anything Obama’s stimulus plan did.

luckedout26 on January 27, 2012 at 1:22 PM

It does sound like a decent idea, but my gut says there will be something bundled in any legislation that will make horrible. I just don’t trust this fool.

My favorite idea to fix this came from watching one of those investing shows on Fox News. The guy from Mash said that they should start forcing a portion of unpaid student loans to hit the schools. This would force the schools to only allow loans for degrees that actually have something to do with working. No more letting other people pay for your $100,000 in loans to get a degree in women’s studies.

jeffn21 on January 27, 2012 at 1:24 PM

I’m tired of sending other people’s kids to college when i can’t afford to send my own. Government needs to GET OUT of education and leave us alone. It’s government interference which has caused this bubble to begin with.

Murf76 on January 27, 2012

THIS. Come on people, stop missing the forest for the trees! It’s unbelievable to me that the majority of the comments are about how the program SHOULD be run instead of the fact that it should be ABOLISHED.

STOP! Open your eyes, shake your heads, and deprogram yourselves from your liberal brainwashing. It’s scary how effective and successful liberal incrementalism has been.

These programs should NOT exist. The federal government should NOT be involved in education, home ownership, etc., etc., etc.

Is that what conservatism has devolved to – “better”, “smarter” management of the myriad unconsitutional orverreaching liberal programs of the federal government?

I guess that explains why Romney, Newt, and Santorum are the “conservative” candidates.

Minarchy on January 27, 2012 at 1:25 PM

Let’s not overtax Obama’s brain and give him a chance to prove he is worth re-election.

The annual budget request, according to the Budget Act, is due next Tuesday. Will he deliver it on time, or has his campaigning around the country diverted his attention from his primary job.

J_Crater on January 27, 2012 at 1:27 PM

Yeah … that’s highway robbery. The book prices alone are enough to qualify as “gouging a captive consumer” more than anyone selling bottles of water for $10 during disasters…

ThePrimordialOrderedPair on January 27, 2012 at 11:57 AM
Youngest son going back to school at a local community college signed up for a number of courses including a geometry class. His geometry book cost $177 and there were no used books for sale at the time.

Very few books cost as much as $177 in a regular bookstore. Governor Brewer’s book Scorpions for Breakfast is going for $15.59 on Amazon. Just sayin’…

Fallon on January 27, 2012 at 1:04 PM

Excellent points.

May I suggest a “poor college kids guide” to the book issue:

Several websites have bid/buy methods on thousands of books. Even with shipping – usually 25-75% off.

Or… borrow someone elses book. I was not the best attendance student, but could write and test well.. and rarely – if ever paid more than $20 a book – due to paying for college myself. Most friends/classmates – etc. will let your kid borrow it, as I had mine. Usually met at the library/cafe for a study group, asked and returned it within a day. Let em know I showed up to help (though rarely class, hehe) at the study group and rarely couldn’t get one.

Oh – and a good way to meet the ladies… ;)

Odie1941 on January 27, 2012 at 1:52 PM

But…but…but the teachers unions will be happy. And so will Barry’s campaign finance director.

GarandFan on January 27, 2012 at 1:57 PM

I see a Reasonable College Degree Board in our future.

BobMbx on January 27, 2012 at 2:12 PM

I agree that college costs are too high. I’m paying 42k+ a year right now to attend a middling Catholic university in the Philadelphia suburbs (if you can’t guess which by that, I don’t know what to tell you). However, the answer is not “THROW MORE MONEY AND ASK FOR AFFORDABILITY,” it’s “We’ll contribute exactly this much and not a penny more” or “If your college costs more than this, no dice.” Hell, I’d even suggest limiting need-based aid to State schools rather than private institutions as an intermediate step towards eliminating the government-collegiate industrial complex entirely.

I’m not for the elimination of State colleges or anything like that, but the government needs to get out of higher education. Easiest way to facilitate that is to burst the bubble. It will never burst the bubble because the professorate supports the expansion of government – all the State is, after all, is that institution in society which seeks to excessive a monopoly of the use of violence within a defined territorial area – and the State will never reject something that shrinks its own power. At least not under the current political administration that controls Washington.

We not only need a real conservative, but a one who has maintained fidelity with the conservative cause of smaller government his or her entire life. It’s too bad that the field doesn’t offer us any of those options (anybody says Ron Paul I’m going to slap them across the face).

Professor de la Paz on January 27, 2012 at 2:16 PM

The dirty little secret no one ever wants to talk about is that “low-income” students (and what Obama really means here are minority students)

Are you nuts? Do you live in some fantasy world where only non-white people are poor in this country? I swear I can’t get you people. You complain about race card, race card, race card and you pull that sucker all the time!

libfreeordie on January 27, 2012 at 12:38 PM

Good point.

Can.I.be.in.the.middle on January 27, 2012 at 2:23 PM

The college financing bubble is very similar to the housing bubble that the Federal Government promoted. Instead of handing out loans for homes that people can’t afford to pay the mortgage on, they are handing out college loans for education that doesn’t result in a paying career as it’s future. Society just doesn’t need all these bachelor’s and doctorettes in basket weaving that are being pumped out…

drfredc on January 27, 2012 at 2:24 PM

I wonder why the left likes to bend over backwards to increase college enrollment… it’s almost like they have something to gain from the politically-neutral “liberal education” (but not “liberal” in the political sense of the term! honest!) that students get at the average US university.

Mr. Prodigy on January 27, 2012 at 2:28 PM

Sure, tie financial aid to affordability.

While you are at it, do the following:

1. Loan money only to majors where 70% or more of the students actually get jobs. (Good bye Women Studies, Minority Studies, Stupid Liberal Studies, Victimology, etc.)

2. Where the faculty does not push a political agenda in the classroom. One video or audio recording proving abuse and the entire institution loses their Federal Funding.

The Rock on January 27, 2012 at 2:39 PM

One wonders if the incentive the President plans to offer for those getting Perkins loans will offset the incentive the colleges have to keep tuitions high for everyone…

Or will this be a dual-track case where everyone else gets to pay even higher prices, while the Perkins people get a break?

unclesmrgol on January 27, 2012 at 2:47 PM

Anyone know if their is a statistic tying the level of those who are accepted to college and the inability to go due to lack of funds???

In my 39 years, I have yet to meet someone who couldnt go to college, perhaps couldnt afford a top school and had to switch choices (I got accepted to Dartmouth, though zero aid – selected a State school) – but again – when have you heard somoen say “I had good grades, work wethic, all the requirements – but just couldnt make it work”

Community college, tech schools, online, etc are all viable launching point choices to achieve a degree of choice, while the ability to afford it.

Everything in the world is tied to your income, unless you are a Democrat or liberal. It’s called basic responsibility and common sense.

Odie1941 on January 27, 2012 at 12:15 PM

My parents are farmers. Baaaaarely squeaking by. They have 9 kids. 1 is still in high school. Of the other 8 (CC = Community College):
1. CC on scholarship, State college to finish degree
2. Private College on scholarship, Masters Degree in Math on T.A. stipend
3. CC on scholarship, State college to finish degree
4. CC on scholarship. Decided not to go on.
5. Devry (don’t know what to classify that on as…sorry).
6. Private College on scholarship, but decided to quit after 1 year
7. CC on scholarship, State college to finish degree
8. CC on scholarship, still going

Sure, we have SOME student loan debt, but nothing horrendous. And all of us have JOBS.

cptacek on January 27, 2012 at 3:07 PM

5. Devry (don’t know what to classify that on as…sorry).

cptacek on January 27, 2012 at 3:07 PM

Technical degree.

NotCoach on January 27, 2012 at 3:18 PM

Maybe if the government were to stop giving schools free money then they might actually attempt to control costs, and if students had to try to come up with loans not backstopped by the government then banks might quit lending for majors in troll studies, or surfing.

DFCtomm on January 27, 2012 at 3:27 PM

Remember this “college” student on Judge Judy… Yeah, more people need to go to college. *eye roll*

Fallon on January 27, 2012 at 3:43 PM

It may be useful for federal loans / grants for critical professions needing workers that have difficulty finding them: engineers and IT. Degrees that people are having difficulty finding jobs should not get any federal help: liberal arts.

philrat on January 27, 2012 at 3:44 PM

Decrease federal financial aid limits and decrease tuition. Simple as that.

besser tot als rot on January 27, 2012 at 11:42 AM

THIS!!

AH_C on January 27, 2012 at 3:51 PM

What a terrible plan. It secretly seeks to make private education unaffordable and thereby make public universities the only means of attaining a degree. Public universities are subsidized by their respective states, so their tuition is cheaper, so they’ll get all the Federal aid money while private universities will get none.

All this from a President who decried Chinese industry for being unfair because it was heavily subsidized?!

solatic on January 27, 2012 at 3:57 PM

Nurses, pharmacists and medical doctors are highest ranked professions for honesty and ethics in December 2011 Gallup poll. Over 70-85% of responders rated them “very high” or “high.”

Accountants got 43%

Bankers got 25%

Lawyers got 19%

Union leaders got 18%

Lobbyists got 7%

Members of Congress got 7%

Looks like all the doctor-bashing hasn’t worked, Obama.

http://www.gallup.com/poll/151460/Record-Rate-Honesty-Ethics-Members-Congress-Low.aspx

haner on January 27, 2012 at 3:57 PM

“President Barack Obama Friday told an enthusiastic crowd of students at the University of Michigan that extra taxes on millionaires should help subsidize their futures.”

Read more: http://dailycaller.com/2012/01/27/obama-tells-university-of-michigan-rich-should-pay-more/#ixzz1khE7DqYv

I am so glad that there is a bottomless well, the rich, where Barry can get the money to pay for EVERYTHING.

galtani on January 27, 2012 at 4:40 PM

AS the only sociology professor here I have to point out that the social sciences are not exactly useless majors, though I’ll concede they involve a bit more career prospect risk than say nursing, education, or STEM fields. THat said, tying fed funding to major makes me a bit uncomfortable. It’s another quota system and thus another stab at social engineering. Just sayin’.

mxt on January 27, 2012 at 4:41 PM

But if tuition goes down, how will they afford to pay professors 6 figure incomes to teach kids about the evils of being rich?

John Deaux on January 27, 2012 at 1:04 PM

By and large the professors are not making the 6 figure salaries at colleges and universities, the administrators are.

Also, why is it the schools with the highest level of endowments have some of the highest tuition rates? Shouldn’t they be charging less because they can offset the cost with the endowments they receive? Oh, they have to pay their over=paid administrators. . .

Why are many colleges and universities granted not for profit status?

And for something else to make your head spin, go look up how indirects work at research universities- http://www-siepr.stanford.edu/workp/swp97039.pdf

cmsciulli on January 27, 2012 at 4:46 PM

College affordability? Elizabeth Warren is laughing her ass off at the stupid kids.

galtani on January 27, 2012 at 5:02 PM

I gotta agree with mxt. I am a STEM product. Fully employed. Love it. Still, we must now understand, anything obummer touch’s will wither and go bankrupt. Somehow he must be prevented from doing anything until he is out of office.

jake49 on January 27, 2012 at 6:05 PM

Technical degree.

NotCoach on January 27, 2012 at 3:18 PM

Thanks!

cptacek on January 27, 2012 at 6:26 PM

To give aid to just anyone is utterly insane as well. Supposedly we need loads of STEM majors, but you can major underwater basket weaving, or some similar useless program, and get the same aid as a Physics or Engineering major. It’s utterly idiotic.

Quartermaster on January 27, 2012 at 8:56 PM

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