White House Pushes For College Cost Transparency
WASHINGTON (AP) - The White House is partnering with dozens of colleges, including many in Texas, to provide new students with easier-to-understand information on costs and financial aid.
Vice President Joe Biden is announcing the partnership Tuesday along with representatives from several schools, including Syracuse University and the University of North Carolina at Chapel Hill. The state university systems in Texas, New York, Massachusetts and Maryland also are participating.
Under the new financial aid transparency agreement, the schools will provide students with data on their financial aid options and estimated monthly payments they will owe after graduation.
The move is part of the Obama administration's effort to address burdensome student loan costs.
Tuesday's announcement comes as the White House pushes Congress to prevent interest rates on federal student loans from doubling on July 1.
(©2012 CBS Local Media, a division of CBS Radio Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)
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