Education
Barack Obama on
Bringing Down the Cost of a College Education
"If we want to train our workforce for a knowledge economy, it's also time that we brought down the cost of a college education and put it within reach of every American. I know how expense this is. At the beginning of our marriage, Michelle and I were spending more to payoff our college loans than we were on our mortgage. So I'll create a new and fully refundable tax credit worth $4,000 for tuition and fees every year, a benefit that students will get in exchange for community or national service, which will cover two-thirds of the tuition at the average public college or university. And I'll also simplify the financial aid application process so that we don't have a million students who aren't applying for aid because it's too difficult."
Keeping America's Promise, Janesville, WI, February 13, 2008
