POLICY SNAPSHOT

Progress

  • Ended more than $60 billion in wasteful subsidies for big banks and used the savings to put the cost of college within reach for more families.
    Read about: ending subsidies for student loan lenders
    Read about ending subsidies for student loan lenders: http://wh.gov/T0b
  • Created and extended a tax credit worth $10,000 over four years that helps 9 million families cover the cost of college.
    Read about: the American Opportunity Tax Credit
    Read about the American Opportunity Tax Credit: http://wh.gov/HaZk
  • Expanded Pell Grants to reach an additional 3 million students and raised the current maximum award to $5,550, up from $4,730 in 2008.
    Read about: Pell grants
    Read about Pell grants: http://wh.gov/T0b
  • Capped monthly student loan payments for responsible borrowers who make their payments on time so they aren't held back by debt as they start their careers.
    Read about: Income-Based Repayment
    Read about Income-Based Repayment: http://wh.gov/T0b
  • Created a model financial aid disclosure form that makes the costs and responsibilities of student loans clear before students enroll in college.
    Read about: Know Before You Owe
    Read about Know Before You Owe: http://consumerfinance.gov/students/knowbeforeyouowe
  • Supported partnerships between community colleges and businesses to train workers with skills local employers need
    Read about: strengthening community colleges
    Read about strengthening community colleges: http://wh.gov/iXQa
  • Launched a College Scorecard to help students and families compare costs, the amount students borrow in loans, and graduation rates among schools and make informed decisions about which college to attend.
    Read about: the College Scorecard
    Read about the College Scorecard: http://wh.gov/KvY
Unemployment & Income by Education

What's Next

  • Rein in college cost by reforming student aid to colleges. Reward schools that set tuition prices responsibly. Schools that do the most to provide students with good long-term value should receive more money to help students attend than schools that don’t. 
    Read about: Blueprint for College Affordability
    Read about Blueprint for College Affordability: http://wh.gov/K6d
  • Improve college quality and value through competition. Invest $1 billion in a competition to provide incentives for colleges to keep costs under control and graduate students on time.
    Read about: Race to the Top: College Affordability and Completion
    Read about Race to the Top: College Affordability and Completion: http://wh.gov/K6d
  • Prepare workers with skills and credentials employers need. Support programs that train workers for jobs in growing industries like high-tech manufacturing and IT.
    Read about: workforce training programs
    Read about workforce training programs: http://wh.gov/0mT
The Rising Cost of Higher Education

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