Obama Lauds Passage of Education Reform

CBS

President Obama signed the health care reconciliation bill into law Tuesday morning, taking the opportunity to focus not on health care reform but on the other major element of the legislation: education reform.

Mr. Obama hailed passage of education reforms that he said are "finally making our student loan system work for students and our families."

Appearing at Northern Virginia Community College in Alexandria, Virginia, the president said passage of the legislation represented a victory for students in the "great battle" between students' interests and the interests of banks and financial institutions, which spent millions lobbying against reform.

He said it remedied a "sweetheart deal in federal law that essentially gave billions of dollars to banks to act as unnecessary middlemen" in the student loan process.

Mr. Obama said that the legislation would save $68 billion in the coming years, which will be spent to help students instead of "padding student lenders' profits."

"we can't afford to waste billions of dollars on giveaways to banks," he said.

The significance of the education reforms, he said, were "overlooked amid all the hoopla, all the drama of last week" in passage of the health care bill.

The money saved will be used for the following, according to the president:

• $2 billion in funding for community colleges, "one of the great undervalued assets in our educational system";

• A doubling in funding for Pell Grants, adding $40 billion to the program: More than 800,000 additional Pell awards will be made over the next decade, the president said, with the amount they are worth raised to nearly $6,000;

• Reform in student loan repayment: Starting in 2014, the percentage of their income that students must pay back is being reduced from 15 percent to 10 percent, and students who pay their loans on time will no longer have to pay them back after 20 years. For those who go into teaching, nursing or the Armed Forces, repayment can stop after 10 year;

• Strengthening historically black and other minority colleges and universities, which the president said had been hard-hit by the financial crisis.

"All of this is paid for," the president told an enthusiastic audience. "We're redirecting money that was poorly spent to make sure that we're making investments in our future."

Mr. Obama was introduced by Dr. Jill Biden, the wife of the vice president, who also teaches at Northern Virginia Community College. The president announced that Jill Biden would lead a summit on community colleges at the White House in the fall.

He also took the opportunity to tweak his vice president; taking the stage, Mr. Obama quipped, "Thank you Dr. Biden for that outstanding introduction, and for putting up with Joe."

The president twice thanked House Speaker Nancy Pelosi for her leadership on the legislation and also lauded other members of Congress who took leadership roles.

"This week we can rightly say the foundation on which America's future will be built is stronger than it was one year ago," he said, referencing both health care and education reform.

The bill signed into law by the president makes changes to the Senate version of the health care legislation passed by the House. It is known formally as the Health Care and Education Reconciliation Act of 2010.

MORE:

With Health Care Done, What's Next For Obama?

[aalyiahrip20]

The only bozo and idiot is you. If you were so smart you would have been aware that the president can't wake up and say "I want a health care reform for the US" and it happends. It takes lots of crap and voting from congress because they have the final say. The idea might have been the congress' for all you know. You are a true morron. Have a nice day.

[citizenusa-2009]

The Bush Crime Family made a mockery of Democracy. They manipulated the "system" and nearly destroyed this country, and I was ashamed of the ignorance of my fellow Americans who voted that joker into office TWICE.

No words can describe the PRIDE that I now feel with President Obama at the helm. He has done more to heal this country in 1 year than I had ever imagined he could do.

True he did not start prosecution proceedings against Bush & Company because he had HUGE problems to fix. Once our troops are home and our big issues are at bay, perhaps he will look at George, D.I.C.K., Karl, and the rest of the crooks and say, "Now, How YOU doin?"

[6591Hou]

If the administration is serious about reducing student debt - do something about the price of books.

[luadda22]

How about lowering tuition rates, how about appointing a pay "czar" to review university presidents and professors salaries. Have you checked the number of universities that own their own private planes? Makes the car companies look like pikers.

A lot of universities receive federal funds, just like the banks. At least it would be "fair".

[luadda22]

BTW 6591Hou, most universities do receive "kick-backs" on custom printings of text books from publishers. That would be a good place to start to reduce the price of books. But of course the liberals would really squeal if you messed with their money. What do you think the chance that Obama will address this issue to reduce education costs?

[pensacola8-2009]

One of the things I hope President Obama fixes is the tricky way that colleges and universities increase the length of time a student is required to attend college to complete a degree by not offering all required classes every semester for students. This causes many student to inflate their student loan debt for an extra year or two. Colleges and universities do know what courses that sudents are required to take for every degree program offered and for any student that registers.

A four year degree should only take four years.

I also hope the Obama administration can place a limit on how often course textbooks are changed. It is plain and obvious that many faculty members are receiving financial reward by publishers for requiring a different book every year, which helps sell books.

[sandy19731]

There are NO financial rewards for changing textbooks, we use the most up to date editions because we are teaching up to date courses.

Tell us the college that increases the length of time a student has to attend college by not offering classes - out them here.

[eightsigma]

Sorry Sandy, I've compared the books. The difference is often not an "up-to-date" issue. I've also had teachers that provided handouts to cover new material. Because of the cost, textbooks should not be changed unless there is a real need.

[CBSisCommunist5]

too bad in November 2010 it will all be reversed...

[omega42]

Pity that you and the rest of the tea party knot-heads never had a government class in your "hoam skool" curriculum, you might have actually learned how government works.

[the74blaster]

by CBSisCommunist5 March 30, 2010 6:10 PM EDT
too bad in November 2010 it will all be reversed...
++++++++++++++++++++++++++++++++++++++++++++++++++++++++

Yeah, I feel sorry for the GOP! Its going to be interesting to see how they try to obstruct things when the democrats have a commanding majority after the election.

It may seem far fetched, but if the GOP does not get its act together quickly watch out!

[bashdj]

Obama is a good person and a great president.

We are lucky to have him.

[monitutonka]

If George W. Bush had been the first President to need a teleprompter installed to be able to get through a press conference, would you have laughed and said this is more proof of how inept he is on his own and is controlled by smarter men behind the scenes?

If George W. Bush had spent hundreds of thousands of dollars to take Laura Bush to a play in NYC, would you have approved?

If George W. Bush had reduced your retirement plan's holdings of GM stock by 90% and given the unions a majority stake in GM, would you have approved?

If George W. Bush had made a joke at the expense of the Special Olympics, would you have approved?

If George W. Bush had given Gordon Brown a set of inexpensive and incorrectly formatted DVDs, when Gordon Brown had given him a thoughtful and historically significant gift, would you have approved?

If George W. Bush had given the Queen of England an iPod containing videos of his speeches, would you have thought this embarrassingly narcissistic and tacky?

If George W. Bush had bowed to the King of Saudi Arabia, would you have approved?

If George W. Bush had visited Austria and referred to the non-existent "Austrian language," would you have brushed it off as a minor slip?

If George W. Bush had filled his cabinet and circle of advisers with people who cannot seem to keep current in their income taxes, would you have approved?

If George W. Bush had stated that there were 57 states in the United States , would you have said that he is clueless.


If George W. Bush had flown all the way to Denmark to make a five-minute speech about how the Olympics would benefit him walking out his front door in Texas, would you have thought he was a self-important, conceited, egotistical prick?

If George W. Bush had been so Spanish illiterate as to refer to "Cinco de Cuatro" in front of the Mexican ambassador when it was the 5th of May (Cinco de Mayo), and continued to flub it when he tried again, would you have winced in embarrassment?

If George W. Bush had misspelled the word "advice" would you have hammered him for it for years like Dan Quayle and potatoe - as proof of what a dunce he is?

If George W. Bush had burned 9,000 gallons of jet fuel to go plant a single tree on Earth Day, would you have concluded he is a hypocrite?

If George W. Bush's administration had okayed Air Force One flying low over millions of people followed by a jet fighter in downtown Manhattan , causing widespread panic, would you have wondered whether they actually get what happened on 9-11?

If George W Bush had failed to send relief aid to flood victims throughout the Midwest with more people killed or made homeless than in New Orleans , would you want it made into a major ongoing political issue with claims of racism and incompetence?

If George W. Bush had created the position of 32 Czars who report directly to him, bypassing the House and Senate on much of what is happening in America , would you have approved?

If George W. Bush had ordered the firing of the CEO of a major corporation, even though he had no constitutional authority to do so, would you have approved?

If George W. Bush had proposed to double the national debt, which had taken more than two centuries to accumulate, in one year, would you have approved?

If George W. Bush had then proposed to double the debt again within 10 years, would you have approved?



So, tell me again, what is it about Obama that makes him so brilliant and impressive and why are we sooo lucky to have him?????

[kansas1946]

George Bush not only bowed to the Saudi king, he held hands with him and kissed him on the lips. George Bush took the largest surplus in American history and turned it into the largest deficit in American history and handed that over to Obama. GM was bankrupt, took billions of dollars of taxpayers money, so they don't get to run the show.

"If George W. Bush had filled his cabinet and circle of advisers with people who cannot seem to keep current in their income taxes, would you have approved?"

He did, and no.

You can worship GWB as much as you want, and you can have him. Worst president in the history of the US.

[tsigili]

So, now it ok to spend American tax dollars, to allow those who can't afford college, which is a privilege and not a right, to go to school on public funds?????

Or is it just all about Obama loving to spend our money?????

[troutfishyman]

The program pays for itself by charging interest on the loans.

[sandy19731]

Just wave the flag and pretend it's another unnecessary war, you'll feel better.

[pragmatist1]

I guess the president is more consumed with the idea of quantity rather than quality. He boasted that as a nation we'll be graduating more students. Perhaps that's true, but what quality will those students represent academically and intellectually? And the world will continue to pass us in certain areas of learning and comprehension, especially in the sciences.

[sandy19731]

What college teaches creationism?

[ThomasJeffersonLives]

troutfishyman: I agree with you - that one shouldn't be dependent on the government for help. My point was many State governments don't allow charter schools to compete with public schools - nor do most of them allow school vouchers. The people should pressure their State representatives to allow more competition.

[troutfishyman]

Maybe that is because charter schools want the same tax dollars that support public schools, but then have none of the same accountability. At least that is my impression. A charter school can do whatever they want if they don't ask for state or federal funding.

[sjc_1]

I am not sure how many tax payers want their tax dollars going to private schools, especially religious schools. Imagine the voucher system in place and a Muslim school gets your tax dollars to preach a radical doctrine.

[luadda22]

What I don't understand is if Obama's policies are so good then why must he first create a demon to get them passed? This bill does nothing to rein in costs and really nothing changes. He demonizes the banks stating "we can't afford to waste billions of dollars on giveaways to banks". If we are wasting money it's the governments fault. The fees that are paid the banks are set by statute. Even stated they "gave billions of dollars to banks to act as unnecessary middlemen". If the "middlemen" are unnecessary, why will this program require that the government contract with private contractors to service the loans (which was not scored by the CBO)? Not to mention the additional government workers that will be required.

Why must Obama be so divisive and create "evil rich", "greedy companies" and "wealth envy"?

I guess it's to keep his minions that are looking for a free ride under the control of government while trying to pull the rest of us under with them. He did say "change"; I guess was just our fault for not getting a clarification of what kind of "change" he was talking about.