President Obama: 'Higher Education Can't Be A Luxury - It Is An Economic Imperative'

Ann McClure's picture
Thursday, January 26, 2012

Barack Obama offered a sneak preview tonight of what many are expecting will be a major topic of discussion when he visits Ann Arbor on Friday: college affordability.

"Higher education can't be a luxury — it is an economic imperative that every family in America should be able to afford," the president said in his State of the Union address.

At a time when Americans owe more in tuition debt than credit card debt, Obama said Congress needs to stop the interest rates on student loans from doubling in July.

"Extend the tuition tax credit we started that saves millions of middle-class families thousands of dollars," he told lawmakers. "And give more young people the chance to earn their way through college by doubling the number of work-study jobs in the next five years."

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