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We have a crisis in higher education today. Too many of our young people cannot afford a college education and those who are leaving college are faced with crushing debt. It is a national disgrace that hundreds of thousands of young Americans today do not go to college, not because they are unqualified, but because they cannot afford it. This is absolutely counterproductive to our efforts to create a strong competitive economy and a vibrant middle class. This disgrace has got to end. In a global economy, when our young people are competing with workers from around the world, we have got to have the best educated workforce possible. And, that means that we have got to make college affordable. We have got to make sure that every qualified American in this country who wants to go to college can go to college -- regardless of income. Further, it is unacceptable that 40 million Americans are drowning in more than $1.2 trillion in student loan debt. It is unacceptable that millions of college graduates cannot afford to buy their first home or their first new car because of the high interest rates they are paying on student debt. It is unacceptable that, in many instances, interest rates on student loans are two to three times higher than on auto loans. (en) |
