President Obama placed pressure on colleges and universities across United States in his third State of the Union address on Jan. 24, asserting that higher education institutions should be active participants in the effort to curb the rising cost of education.
Student loan debt has exceeded that of credit card debt in the United States. Obama urged lawmakers to stop student loan interest from doubling in July and to increase the number of work study jobs available in the next five years.
Schools have a major role to play in decreasing the cost of education, and many are tackling the problem on their own. Some schools are easing the economic burden by allowing students to finish at a faster rate, while others are using technology as an aid.
“The point is, it’s possible,” Obama said.
“So let me put colleges and universities on notice: If you can’t stop tuition from going up, the funding you get from taxpayers will go down. Higher education can’t be a luxury – it’s an economic imperative that every family in America should be able to afford.”
Colby Wilson can be reached at [email protected]