College debt is a major issue that parents are grappling with as their kids commence their college semester next week. The staggering costs of sending your kids to college are overwhelming and downright daunting. According to an article from Associated Press that ran in The Staten Island Advance today (August 22) www.silive,com, this issue is being addressed by the Obama administration.
However not everyone was in agreement with his education plan, according to MSN today. “Two women were escorted out of an event after heckling President Obama during a speech on college affordability in Syracuse, New York,” added NBC News today on http://www.msn.com.
1.4 million graduates enter the work force $26,000 in debt
“The Obama administration says about 1.4 million undergraduate students are enrolled in colleges across New York and those who borrowed money for tuition will graduate with more than $26,000 in debt,” adds AP in The Advance. That is a staggering amount of debt for graduates just starting out in the work force.
President Obama outlined his agenda to combat staggering college costs, added MSN today (August 23). Obama will conclude his upstate New York bus tour Friday with an appearance at Binghamton University.
A release from the White House said Obama's plan will measure college performance through a new rating system and tie financial aid to college performance, added MSN. His plan would also allow borrowers to cap their loan payments at 10 percent of their monthly income, added the report. Staten Island parents and teachers what is your reaction to Obama’s remarks. Do you feel that loan payments should be capped at 10 percent of your monthly income? Tell us your opinion.