President Obama in Ann Arbor, Michigan: "Putting Colleges on Notice" [View all]

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Last edited Fri Jan 27, 2012, 02:50 PM - Edit history (2)

(Carlos Osorio, Associated Press)

Ann Arbor— President Barack Obama was on the stage for about 40 minutes at the University of Michigan for a speech Friday in front of thousands of students, touching on the need for making higher education more accessible and affordable.

And the president wasted no time getting started.

"The reason I'm here today, in addition to meeting (U-M quarterback) Denard Robinson, is to talk with all of you about what most of you do here every day," he said. "That is to think about how you can gain the skills and training you need to succeed in this 21st century economy. This is going to be one of the most important issues that not just you face but everyone in the entire country faces."

Drawing on his own experience and that of the first lady's, he said: "Your president and your first lady were in your shoes, not that long ago. We didn't come from wealthy families. The only way we were able to achieve what we achieved is because we got a great education. We could not have done that unless we lived in a country that made a commitment to opening up that opportunity to all people."

"We're telling the states if you can bring down the cost of college and find ways for more students to graduate ... we will give you additional federal support," he said

read: http://www.detroitnews.com/article/20120127/POLITICS03/201270403/Obama-seeks-help-colleges-keep-costs-down?odyssey=mod%7Cnewswell%7Ctext%7CFRONTPAGE%7Cp



(Associated Press)

Saying “we just can’t keep on subsidizing skyrocketing tuition,” President Barack Obama proposed to have the government, for the first time, link federal aid to a college’s ability to control tuition costs and maintain education quality.

“We are putting colleges on notice -- you can’t assume that you’ll just jack up tuition every single year,” Obama said today at the University of Michigan in Ann Arbor. “If you can’t stop tuition from going up, then the funding you get from taxpayers every year will go down.”

Obama said higher education today is “an economic imperative” instead of a luxury. “College is the single most important investment that you can make in your future,” he said.

The administration’s proposal calls for $1 billion to entice states to help keep costs down at public colleges while encouraging an overhaul of state programs that help finance education.

read: http://www.bloomberg.com/news/2012-01-27/obama-proposes-to-link-federal-u-s-college-aid-to-affordability.html



(Haraz N. Ghanbari, Associated Press)

"You can't assume that you'll just jack up tuition every single year. If you can't stop tuition from going up, then the funding you get from taxpayers each year will go down," Obama said on the final stop of a three-day post-State of the Union trip to promote components of his economic agenda.

“Colleges that can show that they are providing students with good long-term value will be rewarded with additional dollars to help students attend,” the White House said in a statement. “Those that show poor value, or who don’t act responsibly in setting tuition, will receive less federal campus-based aid.”

Obama told the largely supportive student audience that the nation's economic future depended on making sure every American can afford a world-class education.

"In the coming decade, 60 percent of new jobs will require more than a high school diploma," he said. "Higher education is not a luxury. It's an economic imperative that every family in America should be able to afford."

read: http://seattletimes.nwsource.com/html/politics/2017347431_apusobama.html



REUTERS/Jason Reed

The U.S. Department of Education announced a number of new college affordability initiatives today and Obama outlined several of them in his speech:

--Award $10 billion in campus based aid per year. Such aid includes Supplemental Educational Opportunity Grants, Perkins Loans, and work study. Calling the formula for such awards "antiquated," Obama wants to develop a new formula that prioritizes schools with stable and affordable tuition rates, instead of those that have been in the aid programs longest. The new formula would also incentivize "good value education," meaning high graduation rates and job placements, and the matriculation of low-income students. Obama also wants to double the number of subsidized work study jobs in the next five years.

--Growing the amount of federal Stafford loans from $1 billion to $8 billion. The president also wants interest rates on Stafford loans to remain stable. The 3.4 percent rate is set to increase to 6.8 percent this summer, but the president plans to ask Congress to delay the increase for at least a year.

--A $1 billion grant competition for states that would incentivize investing tax dollars in public universities. It would work similar to the K-12 Race for the Top program, which prompted states to approve new laws allowing for more charter schools.

--A $55 million "First in the World" competition which would award individual colleges and education non-profits with money to boost productivity.

--Requiring every accredited college to post a "scorecard" that outlines the true cost for attending, including tuition, room and board costs and amenity fees.

--To begin collecting and archiving graduation and graduate employment rates from colleges.

read: http://www.annarbor.com/news/president-barack-obama-we-cannot-leave-higher-education-behind/



REUTERS/Jason Reed

President Obama from the White House transcript:

Today, the unemployment rate for Americans with a college degree or more is about half the national average. Their incomes are twice as high as those who don’t have a high school diploma. College is the single most important investment you can make in your future. And I'm proud that all of you are making that investment. (Applause.)

And the degree you earn from Michigan will be the best tool you have to achieve that basic American promise -- the idea that if you work hard, if you are applying yourself, if you are doing the right thing, you can do well enough to raise a family and own a home and send your own kids to college, put away a little for retirement, create products or services -- be part of something that is adding value to this country and maybe changing the world. That's what you're striving for. That's what the American Dream is all about.

And how we keep that promise alive is the defining issue of our time. I don’t want to be in a country where we only are looking at success for a small group of people. We want a country where everybody has a chance. Where everybody has a chance. We don't want to become a country where a shrinking number of Americans do really well while a growing number barely get by. That’s not the future we want. Not the future I want for you, it's not the future I want for my daughters. I want this to be a big, bold, generous country where everybody gets a fair shot, everybody is doing their fair share, everybody is playing by the same set of rules. That’s the America I know. That’s the American I want to keep. That's the future within our reach.

Now, in the State of the Union on Tuesday, I laid out a blueprint that gets us there. Blueprint -- it's blue. (Laughter and applause.) That's no coincidence. I planned it that way, Michigan. (Laughter.) A blueprint for an economy that’s built to last . . .


(Carlos Osorio, Associated Press)


read (Full Remarks by the President on College Affordability, Ann Arbor, Michigan): http://www.whitehouse.gov/the-press-office/2012/01/27/remarks-president-college-affordability-ann-arbor-michigan

related:

Live Reaction From President Obama’s Visit To Ann Arbor: http://detroit.cbslocal.com/top-lists/president-obama-speaks-at-u-m/