Obama Proposes Education Spending Increase
In Washington today, President Barack Obama proposed an increase in education spending that would help make college more affordable to all students.�� Under his new budget plan, students would see an increase in the availability of funds.
His plan would tie the Pell Grant program to inflation for the first time since the grants began in 1973. The program would grow by more than 150 percent over the next 10 years.
Obama also seeks an end to government-guaranteed loans, an idea sure to upset the nation's lenders. Instead, the government would increase its own direct lending to students in an effort to protect them from turmoil in financial markets.
The spending proposal follows through on Obama's comments Tuesday to Congress, when he said he wants every child to be able to pursue some form of higher education.
The number of students who want to go to college is on the rise due to the state of our economy. Tuition fees are also on the rise, and the current Pell Grant program just cant keep up with the times.�� With President Obama's proposal, having further options when it comes to government education funding is necessary to keep college education within reach of all Americans.
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