The two youngest members of the U.S. Senate are co-sponsoring legislation aimed at lowering college costs by withholding federal funds from schools that fail to meet new national affordability and quality standards — a proposal likely to draw strong opposition from higher education institutions.
Democratic Sens. Chris Murphy of Connecticut and Brian Schatz of Hawaii plan to submit the legislation this week. Both are still paying off their college loans.
Murphy, 40, and Schatz, 41, say skyrocketing tuition has put higher education out of reach for many Americans, with college costs having tripled over the past 30 years. And they say too many people are leaving college with high loan debt.