WASHINGTON, D.C. | August 7, 2015
College costs are on the rise, national student loan debt has eclipsed the $1 trillion mark, and enrollment rates for low-income students are in decline. The Obama administration has responded to those challenges with more regulations and more expensive programs, an approach that is not working for students, families, and taxpayers (despite claims to the contrary). Meanwhile, Congress has responded with real solutions, like:
This is precisely the type of progress the American people deserve. But more work lies ahead. We need to build on these important efforts with other commonsense reforms that:
- Empower students and families to make informed decisions by strengthening transparency and enhancing financial literary services so individuals can better understand the higher education landscape and make choices based on easy-to-understand, relevant information.
- Simplify and improve student aid by consolidating the current patchwork of federal programs and streamlining the application and eligibility process to help more students understand how to pay for their education in a fiscally responsible way.
- Promote innovation, access, and completion by supporting opportunities that enable individuals to earn a degree or certificate faster and with less cost.
- Ensure strong accountability and a limited federal role by reducing federal red tape and providing accreditors and institutions the flexibility they need to effectively deliver a high quality education.
The Obama administration wants the country to double down on a flawed approach that has failed to deliver real results for the American people. Here's a better approach: continue to promote principled solutions that help every willing individual – regardless of age, background, or circumstances – access and complete higher education.
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