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President Barack Obama to host summit for affordable college education

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The Higher Education Act of 1965, authorized most federal student financial aid programs, including the Educational Opportunity Grant Program and the Guaranteed Student Loan Program. This landmark legislation paved the way for countless opportunities for low-income students to have access to Higher Education.

Nearing the 50-year anniversary of the law, the future of student financial aid continues to evolve. According to a Jan. 14, report in UT San Diego, President Barack Obama and first lady Michelle Obama, will host a White House summit.

The summit will take place on Jan. 16, and the topic is expanding college opportunities.

The participants are comprised of leaders of colleges, nonprofit organizations, foundations, state governments and businesses. The President is considering actions to offer incentives to schools to scale back tuition cost, and combat student debt.

Obama stated, "Colleges should be rated on their value to students, and it is time to stop subsidizing schools that are not producing good results."

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