President Barack Obama kicked off his two day two-state bus tour to talk about college affordability at the University at Buffalo. The president announced a three-point plan aimed at reducing student debt and making college more affordable. YNN's Kevin Jolly tells us more about what the president is proposing.
AMHERST, N.Y. — "Well, it is good to be back in Buffalo it is good to be back in New York," said Obama.
More than 7,000 people, most UB students, packed Alumni Arena to hear President Obama lay out his plan to make higher education more affordable.
"There aren't many things that are more important to that idea of economic mobility, the idea that you can make it if you try than a good education."
The president outlined his three-point proposal: First, he wants to create a new rating system for colleges.
"Not by which college has the nicest facilities, you can get all that in the existing rating systems. What we want to do is rate them on who's offering the best value so students and taxpayers get the best bang for the buck," said Obama.
Obama says that rating system would be used to determine how federal aid is allocated to colleges.
The second part of the plan calls for providing better incentives for colleges that keep tuition low and better prepare students for the workforce.
"I'm challenging all states to come up with new and innovative ways to fund their colleges in a way that drives better results."
The third part of the plan proposes making it easier for students to repay their college loans.
"Our national mission is not to profit off student loans. Our national mission must be to profit off of having the best educated workforce in the world."
According to The Institute for College Access and Success, the average student graduates with a debt of just more than $26,000. Couple that with an uncertain job market, many often find themselves strapped with debt.
Obama told the crowd he believes his plan will help alleviate that debt and make college more accessible for future generations.