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Debate Highlight: Obama’s Failed Record On College Education

- October 17, 2012

Obama: "We've Seen Millions Of Young People Be Able To Afford College." OBAMA: "And as a consequence, we've seen millions of young people be able to afford college, and that's going to make sure that young women are going to be able to compete in that marketplace." (President Barack Obama, Presidential Debate, Hempstead, N.Y., 10/16/12)

Under Obama, The Cost Of College Is At "An All Time High"

Over The Past Two Years, "The Average Cost Of Attending A Four-Year Public University Increased By 15 Percent" According To The U.S. Department Of Education. "The average cost of attending a four-year public university increased by 15 percent over a two-year period, fueled by state budget cuts and tuition increases of 40 percent or more at universities in Georgia, Arizona and California. The U.S. Education Department released the figures Tuesday in its annual look at college affordability." (Christine Armario, "Average Price Of 4-Year University Up 15 Percent," The Associated Press, 6/12/12)

In The Past Year, Tuition For Instate Public College Rose 8.3 Percent. "Published in-state tuition and fees at public four-year institutions average $8,244 in 2011-12, $631 (8.3%) higher than in 2010-11. Average total charges, including tuition and fees and room and board, are $17,131, up 6.0% from 2010-11." ("Trends In College Pricing 2011," College Board, 2011-12)

  • In The Past Year, Tuition For Public Two-Year Colleges Rose 8.7 Percent. "Published tuition and fees at public two-year colleges average $2,963, $236 (8.7%) higher than in 2010-11." ("Trends In College Pricing 2011," College Board, 2011-12)

With In-State Tuition And Fees At Four-Year Public Colleges Rising An Additional $631 Or 8.3 Percent In Fall 2011, The Cost Of College Is A "Kick In The Gut" For American Families. "It's a kick in the gut even for students and families hardened to bad financial news: Average in-state tuition and fees at four-year public colleges rose an additional $631 this fall, or 8.3 percent, compared with a year ago." (Justin Pope, "College Prices Up Again As States Slash Budgets," The Associated Press, 10/26/11)

  • The Cost Of College Is Currently At "An All Time High." "Nationally, the cost of a full credit load has passed $8,000, an all-time high. Throw in room and board, and the average list price for a state school now runs more than $17,000 a year, according to the twin annual reports on college costs and student aid published Wednesday by the College Board." (Justin Pope, "College Prices Up Again As States Slash Budgets," The Associated Press, 10/26/11)

The Cost Of College Has Increased "Faster Than The Rate Of Inflation" And If The Current Trend Continues, The Cost Of College "Will Have More Than Doubled In Just 15 Years." "Nationally, state and local spending per college student, adjusted for inflation, reached a 25-year low this year, jeopardizing the long-held conviction that state-subsidized higher education is an affordable steppingstone for the lower and middle classes. All the while, the cost of tuition and fees has continued to increase faster than the rate of inflation, faster even than medical spending. If the trends continue through 2016, the average cost of a public college will have more than doubled in just 15 years, according to the Department of Education." (Andrew Martin and Andrew W. Lehren, "A Generation Hobbled By The Soaring Cost Of College," The New York Times, 5/12/12)

  • The Price Of College Increased "More Than Double" The Rate Of Inflation Between July 2010 And July 2011. "That increase is more than double the inflation rate of 3.6% between July 2010 and July 2011. Family earnings dropped across all income levels. And state funding per student declined by 4% in 2010, the latest year available, and 23% over the past decade, the report says." (Mary Beth Marklein, "Tuition And Fees Rise More Than 8% At U.S. Public Colleges,"USA Today, 10/25/11)

Under Obama, A Record Number Of Households Struggle With Student Debt

"Student Debt Has Stretched To A Record Number Of U.S. Households - Nearly 1 In 5." "With college enrollment growing, student debt has stretched to a record number of U.S. households - nearly 1 in 5 - with the biggest burdens falling on the young and poor." (Hope Yen, "Student Debt Stretches To Record 1 In 5 Households," The Associated Press, 9/27/12)

  • "22.4 Million Households, Or 19 Percent, Had College Debt In 2010… Up From 15 Percent In 2007." "The analysis by the Pew Research Center found that 22.4 million households, or 19 percent, had college debt in 2010. That is double the share in 1989, and up from 15 percent in 2007, just prior to the recession - representing the biggest three-year increase in student debt in more than two decades." (Hope Yen, "Student Debt Stretches To Record 1 In 5 Households," The Associated Press, 9/27/12)

"Across All Households, The Average Outstanding College Debt Increased From $23,349 To $26,682." "Across all households, the average outstanding college debt increased from $23,349 to $26,682. For the poorest 20 percent of households, the average debt rose from $19,018 to $20,640." (Hope Yen, "Student Debt Stretches To Record 1 In 5 Households," The Associated Press, 9/27/12)

"Because Of The Sluggish Economy, Fewer College Students Than Before Are Able To Settle Into Full-Time Careers Immediately Upon Graduation, Contributing To A Jump In Debt." "Because of the sluggish economy, fewer college students than before are able to settle into full-time careers immediately upon graduation, contributing to a jump in debt among lower-income households as the young adults take on part-time jobs or attend graduate school, according to Pew." (Hope Yen, "Student Debt Stretches To Record 1 In 5 Households," The Associated Press, 9/27/12)

  • "40 Percent Of U.S. Households Headed By Someone Younger Than Age 35 Owed College Debt, The Highest Share Of Any Age Group." "As a share of household income, the debt burden was the greatest for the poorest 20 percent of households, or those making less than $21,044. In all, 40 percent of U.S. households headed by someone younger than age 35 owed college debt, the highest share of any age group." (Hope Yen, "Student Debt Stretches To Record 1 In 5 Households," The Associated Press, 9/27/12)

Under Obama, More Borrowers Are Defaulting On Student Loans

Last Year, 13.4 Percent Of Borrowers Defaulted On Student Loans Within The First Three Years Of Payments. "The percentage of borrowers who defaulted on federal education loans within the first three years of payments rose to an average of 13.4 percent last year - 22.7 percent for those who attended for-profit colleges - according to statistics released on Friday by the Department of Education." (Tamar Lewin, "Education Department Report Shows More Borrowers Defaulting On Student Loans," The New York Times, 9/28/12)

"The Rate Of Students Defaulting On Federal Loans Within Two Years, Also Released On Friday, Increased To 9.1 Percent, The Highest Level In More Than A Decade." (Tamar Lewin, "Education Department Report Shows More Borrowers Defaulting On Student Loans," The New York Times, 9/28/12)


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