Listen Live at 11:05 a.m. ET: Making College More Affordable While Ending Giveaways for Private Banks
"We shouldn’t be providing billions in taxpayer-funded giveaways to private banks; we should be providing an affordable, accessible college education to every American." — President Obama
In today’s economy, a high-quality college education has become more critical than ever — but increasingly, students and families are struggling to afford rising costs, and remaining burdened with student loans for years after graduation day.
One of President Obama’s top priorities is providing an affordable, accessible college education for every American — and this morning at Northern Virginia Community College, he will sign into law a down payment on that promise. In addition to strengthening the health reform bill signed last week, the Health Care and Education Reconciliation Act doubles funding for Pell Grants, will cap a graduate’s annual loan repayments at 10 percent of income, and invests in community colleges to help an additional 5 million Americans earn degrees and certificates over the next decade. These initiatives are fully paid for by ending subsidies to banks and private lending companies, and will reduce the federal deficit over the next 11 years.
You can listen to the President’s remarks at the signing ceremony live at 11:05 a.m. Eastern Time here or at WhiteHouse.gov/live. The President will be introduced by Dr. Jill Biden, a longtime educator and professor at Northern Virginia Community College.
