A new plan was proposed by President Barack Obama on Thursday that aims to handle the rising costs of education in the United States.
Obama's plan to combat the cost of rising education involves a new system that reviews the financial value of colleges and universities and then uses those ratings to pay out federal aid.
He made the announcement in a speech at the State University of New York at Buffalo.
"At a time when a higher education has never been more important or more expensive, too many students are facing a choice that they should never have to make," Obama said. "Either they say no to college, and pay the price for not getting a degree ... or you do what it takes to go to college, but then you run the risk that you won't be able to pay it off because you've got so much debt."
The new plan asks for the Education Department to launch a new ratings system before the 2015 school year that would allow students and parents to select schools based on the best value for the money and then Obama would ask Congress to link federal student aid to those ratings by 2018.
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