Obama announces plan for higher education funding

President Barack Obama announced plans today to tie federal funding to a college’s performance and affordability, among other reforms aimed at decreasing student debt and increasing college enrollment.

Obama said that the U.S. Department of Education will develop a new rating system for colleges that will rank colleges on how many students graduate on time and how affordable a college is, among other factors.

The new rating system will help determine how much federal money is distributed to universities. It is expected to be complete before the 2015 school year, Obama added.

“It is time to stop subsidizing schools that are not producing good results and reward schools that deliver for American students in our future,” he said to a roaring crowd of college students at the University of Buffalo.

University of California President Mark Yudof applauded Obama’s new reforms.

“We have embraced making public higher education more accountable and affordable,” Yudof said in a statement. “… Yet there is always more that can be done to ensure transparency and access, and we look forward to working with the Obama Administration toward achievement of shared goals.”

In his speech this morning, Obama also said that students receiving federal financial aid will now be expected to finish their courses on time, though there will be some flexibility for disadvantaged students and students with jobs.

Obama also said he does not think state funding should be allocated based on student enrollments, but on a college’s performance and ability to keep education affordable.

Compiled by Kristen Taketa, Bruin senior staff.

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2 Comments

  1. College affordable program for quality higher education is a
    global trend toward better society and cultivating self-reliant and responsible
    citizens. It’s very important to my children’s future, my community’s future,
    and the Great American’s promising future.

    I am a first generation immigrant. We first came to study in American Colleges
    by the Corporation Sponsor funds and University research funds. Without the
    generous funds contributed by the conscious and enthusiastic worldwide
    entrepreneur, I won’t be able to finish my education in SUNY Albany and SUNY
    Cortland. Many of my friends missed the requirement for the funds in college have been burdened by the expensive higher education costs in their productive years. And this burden does have significant negative impact in American’s young generation.

    As your neighborhood mum, I want my children to have a big
    vision and work hard toward their promising path. We don’t want our young generation to legging behind just because of the potential threats of high interest loans for their higher education. No hardworking children and no ambitious young men and women should be left behind by the burden of educational loans.

    President Obama and Michelle’s progressive mission to make higher education more affordable for more Americans must be appreciated and be supported by all American Taxpayers. We are better to create better community for better future and for a strong country, because we have opportunity to access a better education. Now, let’s join President Obama and Mitchelle’s progressive education mission to demand our lawmaker’s to make laws to make the higher education more affordable to all American hardworking children, men and women. I am a tiny woman with strong grandmother accent. I wouldn’t be in a self-reliant life style in the past tough economical season, if it weren’t for a quality Master’s study.

    Sophie Kuanghua Sie

  2. I mean but really pulling funding out of schools that are already “not performing well” and struggling is just pouring gasoline on the fire. Also I knew as soon as I saw Mark Yudolf’s name in support that it would be drama.

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