“When I’m president, I will make college affordable for every American.” -- President Obama, 2008
Any student who voted for President Obama--in either 2008 or 2012--in order to cut their college costs was sold a bill of goods. In Obama’s first four years, national tuition prices rose 25 percent and average graduating loan debt rose 16 percent.
Now, the Obama-signed sequester (aka “fiscal cliff”) includes an 8.2 percent cut in non-Pell student aid, an across-the-board cut of more than $140 million. Student loan origination fees will also go up $91 million.