Transcripts For MSNBC MSNBC Live 20130822 : vimarsana.com

The rnc calling this a lame duck bus tour. Its not clear that president obama would be able to get sort of the bipartisan support for this type of proposal that hes hoping for. And craig, to put this in a broader context, this is really the president s goal to tee up the fall budget battles. The budget and also, of course, the debt ceiling which hell be dealing with this fall. Thats part of the larger goal. We expect the president to come out in a few minutes. Craig . Kristen welker traveling with the president in buffalo. Well hear from president obama in just a few moments. Meanwhile, i want to bring in steve cornaki. Lets talk about not just the president s plan here, but the rising cost of college. The rising cost of tuition. Youve been talking a little bit about what they are doing out in oregon. Lets talk a little bit about that. For folks who werent familiar with this plan, what is it . And could it be taken to scale . Thats what theyre trying to find out right now. The stage is very early. Its a Pilot Program thats been developed right now. The plan isnt fully in place. The idea is basically if you go to a college, Public College, you wouldnt pay tuition up front and go out and take a gigantic loan, be paying interest on it. The cost of college would be zero. But in exchange for that, you would then dedicate a fixed portion of your earnings over the next 15, 20, 25 years, Something Like that, say 2 or 3 of your earnings. And that would you would pay back. Pay it forward plan. The money you pay back while youre working would pay for new students to come in who wouldnt have to pay when they cant afford it. Fascinating concept. The whole idea is, lets see if they can develop something that becomes a model for the rest of the state, the rest of the country. This is something else, probably not something thats going to be discussed today, but a conversation we had this morning. The idea that perhaps in this country maybe we have too many colleges and universities. Maybe we have too many institutions of Higher Learning when you look at the number of tech schools. Just the sheer number. Is that the case in america when you look at us compared to other industrialized countries . That debate goes on a lot. Theres something sort of aspirational about the idea of college, about the fulfillment of the american dream. Especially when you talk about, you know, parents or grandparents who didnt go to college who didnt have the opportunity. The pride they take in being able to watch their kids and grand kids be eligible for it, be able to do it. And youre right, i dont think thats something that the president s going to bring up today. The other thing here too, i think, sure, theres the issue here, has to go through republicans in congress, who knows if thats going to happen. But its a step more removed from that. This is a philosophical moment for the president. Republicans are out there in the town halls back in the districts, what are we hearing from that . A shutdown, debt ceiling fight, we want to get rid of obama care and this is obama saying while theyre having that conferring, this is the conversation i want to have with the country. About what the government can do to help people realize the dream of a College Education to not go broke, not go bankrupt paying for it. Two different messages out there to hear. I want to bring Kristen Welker back into the conversation, as well, there in buffalo. Kristen, what parts of the president s plans will he be able to enact without congressional approval . Thats an important point, craig. This grading system is something that he plans to do through executive action. So he wants to get that started by 2015 so that colleges can start to be graded based on the debt of students. The percentage of graduates, the expected earnings of potential graduates. So thats something that he can do without congress. But where he Needs Congress is to actually link it to federal aid. And that is where it gets more complicated. This is something hes been talking about since the state of the Union Address in some form or fashion. Hes really struggled to get some of those initiatives through congress. Theres really not a whole lot of hope at this point in time that it will get through. But, again, of course, hes just mapping it out today and we are still waiting to hear what republicans on the hill have to say. And they say some of them waiting to hear what president obama has to say in his remarks. But it is an important point, craig, some of this can get going without congress. Steve obviously the economy, the middle class, reducing the cost of college. Those are issues that are top of mind for lots of people in this country. But with whats happening in egypt, the images that we are seeing now out of syria. Whats the likelihood that this message over the next few days gets completely overshadowed. Yeah, its a time time. Of course, by the same tone, its going to always be a tough time. Always something to overshadow it. And when you talk about an issue like college tuition, Student Loans, these sorts of things, its never an issue that i think that ever rises to number one on peoples priority list. But i think one thing to keep in mind about sort of the politics of this if you look at the coalition that elected and reelected obama in the role that young voters played. Recent College Graduates, people who are now saddled with tens of thousands of dollars of debt who are not making a lot of money. How am i going to pay this off . People who have who are living the reality of Student Loan Debt every day. I think this message maybe reaches them even if it doesnt become the top national issue. The average borrower at this point we know graduates with about 26,000 worth of debt. Tuition has doubled as a share of public revenue from 25 to 47 . It will be interesting to hear whether the president also in addition to rolling out a plan talks about some of the drivers of college debt and some of the drivers of tuition increases in this country, as well. And a longer term question, its interesting. I dont i sort of wonder sometimes how much the federal government is going to be able to do ultimately to bring down the cost of, you know, 60,000 at stanford or whatever it costs these days. But this idea of a report card, a grading system of quantifying, hey, this is, you know, money well spent, a college that actually cares about keeping the cost of tuition under control and were going to create some sort of incentive where theres more grants now coming to students who go to that school, more money available for students at that school. I wonder if that could change behavior a little bit. Do standby as we wait for president obama to take the podium. Meanwhile, we continue to follow developing news from egypt this hour. A helicopter landed at a prison in cairo late this morning to take former leader hosni mubarak. The interim government made that move after the judge ordered mubarak released from prison. We are going to continue to follow developments from cairo and bring you new information from egypt as we get it. Right now, the United Nations is working to clarify reports of chemical weapons attacks in syria. Now, dozens of countries are calling for a u. N. Investigation, the Syrian Government is denying claims of the worst attacks anywhere in decades. Nbcs chief Foreign Correspondent Richard Engel is in cairo. Reporter syrians are still finding bodies today in two areas outside damascus, where rebels claim there was a series of chemical weapons attacks in the Early Morning hours yesterday. The death tolls right now, they range wildly. Anywhere from the hundreds to well over 1,000. There are weapons inspectors who are in syria a few miles away from these alleged atrocities took place. They cant get to the sites. They are barred access by the Syrian Government. They are negotiating with syrian authorities but so far have not been able to reach those areas and do their experiments, collect soil samples, talk to survivors and medical personnel which is something that now 35 countries are demanding that they do. The Syrian Government, however, says there was no chemical weapons attack. That tlchbt been any chemical weapons attacks, that this is a fabrication by the Syrian Rebels to try to Gain International support, gain sympathy, and to confuse those weapons inspectors holed up in damascus now. Craig . Richard, thank you so much. And, again, we continue to wait on president obamas remarks at the university of buffalo. The president rolling out a plan to cut the cost of going to college. We will bring you his remarks when they happen. The secret is out. 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We will bring you the remarks when they happen live. Right now the san diego officials are preparing to release details about mayor bob filners Sexual Harassment settlement. Proposed resolution after days of talks. They will present the deal to a closed session of city council tomorrow. Nbcs joe friar has the latest on that from san diego. Joe . Reporter craig, we know theyve reached a tentative agreement. The big question, is mayor bob filners resignation a part of that agreement . We know that filner was seen leaving city hall last night. Videos shot by a staff member of one City Council Member shows filner shopping into his suv and you could see packed boxes in the backseat. Experts have been saying all week long that resignation is the main negotiating tool that filner has. The big question is, if he did decide to resign, what might he able to get in return . Would that include help with his legal costs . And would the city council be willing to approve that . City leaders and filners attorneys emerged after three days of mediation talks. They say they cannot discuss the details of that agreement until its presented to the city council in a closed door meeting on friday afternoon. After that meeting, then more details will be released. One big question, does this agreement include any sort of settlement of the lawsuit with the one former employee who has filed a suit claiming Sexual Harassment against filner. We know that lady and her attorney have been part of the mediation process. Allred is holding a News Conference this afternoon and might shed more light on what the settlement holds. All right. Joe fryer in san diego. And again, we continue to watch this this hall in buffalo, new york. President obama being introduced there. Hundreds of students have gathered. Kristen welker standing by. One of the things we were talking about in the last commercial break, it will also be interesting to hear whether president obama talks about the fact that over the past, you know, two decades, there really havent been a lot of incentives for colleges and for universities to actually bring down the cost of college. When you make all this federal money, when you make it well have to pick up that conversation after the speech president obama taking the podium here in buffalo. Lets listen in, again, this is, we should note here, part of a twoday bus tour. President obama will stop here, hes also going to be stopping in pennsylvania, as well. To talk to students, to talk to parents about some of the ideas that the white house now has to reduce the cost of going to college in this country. We know, again, the average College Graduate carries about 26,000 in debt when he or she finally graduates. And we also know that tuition has almost doubled as a share of Public College revenue over the past 25 years or so. Its gone from 25 to 47 and, again, we can see president obama working the rope line there, making his way to the podium. We expect his comments to run somewhere between, you know, 30 and 40 minutes. Hello, buffalo hello bulls. Well, it is good to be back in buffalo. Good to be back in new york. I want to begin by making sure we all thank sylvana for the wonderful introduction. Give her a round of applause. Her mom and dad are here somewhere. Where are they . I know theyre pretty proud. There they are right there. Give mom and dad a big round of applause. A number of other people i want to acknowledge. Our secretary of education arne duncan, doing a great job. One of the finest governors in the country, your governor, andrew cuomo is here. Your outstanding mayor Brian Higgins is here. Give him a big round of applause. What . Byron brown. Im sorry. Let me what i meant was your congressman Brian Higgins is here. Your mayor byron brown is here. This is what happens when you get to be 52 years old. When i was 51, everything was smooth. But your congressman and your mayor are doing outstanding work. We just rode on the bus over from the airport and they were telling me that buffalos on the move. That was the story. Couple other people i want to acknowledge, nancy zimfer is here, doing a great job, University President satish is here. And weve got all the students in the house. Thank all the students for being here. [ applause ] now, today is a checkin day at the dorms. So i want to thank all the students for taking a few minutes from setting up your futons and your mini fridges just to come out here. I hear the last sitting president to speak here was milliard fillmore. And he was actually chancellor of the university at the same time. Which sounds fun but ive got enough on my plate. This is our first stop on a twoday road trip through new york and pennsylvania. And after this, i head to syracuse to speak yay, syracuse to speak with some high schoolers. Tomorrow, im going to visit scranton. But i wanted to start here at university of buffalo. And i wanted i wanted to do it for a couple of reasons. First, i know youre focused on the future. As i said talking to the mayor, you know, he was describing new medical school and new opportunities for the hightech jobs of tomorrow. So theres great work being done at this institution. I also know that everybody here must be fearless because the Football Team kicks off against number two ohio state next weekend. Good luck, guys. Its going to be a great experience. Its going to be a great experience. It could be an upset. And third and most importantly, i know that the young people here are committed to earning your degree, to helping this university, to make sure that every one of you finishes in four, make sure that youre prepared for whatever comes next. And thats what i want to talk about here today. You know, over the last month, ive been visiting towns across the country, talking about, yeah feel free to sit down. Get comfortable. Thank you. I love you too. Over the last month over the last month, ive been out there talking about what we need to do as a country to make sure that weve got a Better Bargain for the middle class. And everybody whos working hard to get into the middle class. A National Strategy to make sure that everybody who works hard has a chance to succeed in this 21st century economy. Now i think all of us here know that for the past 4 1 2 years, weve been fighting back from a brutal recession that cost millions of americans their jobs, their homes and their savings. But what the recession also did was it showed that for too long weve seen an erosion of middle class security. So together we saved the auto industry. Together we took on a broken health care system, we invested [ applause ] we invested in new technologies. We started reversing our addiction to foreign oil. We changed a tax code that was tilted too far in favor of the wealthy at the expense of working families. Add it all up, today our businesses have created 7. 3 million new jobs over the last 41 months. We now generate more Renewable Energy than ever before, we sell more goods made in america the rest of the world than ever, Health Care Costs are growing at the slowest rate in 50 years, our deficits are falling at the fastest rate in 60 years. Here in buffalo, the governor and the mayor were describing over 1 billion in investment, river front being changed, construction booming. Signs of progress. So thanks to the grit and the resilience of the american people, weve cleared away the rubble from the financial crisis. Weve started to lay the foundation for a stronger, more durable economic growth. But, as any middle class family will tell you, folks here in buffalo will tell you, were not where we need to be yet. Because even before the crisis hit and a town like buffalo knows something about this, we were living through a decade where a few at the top were doing better and better, most families were working harder and harder just to get by. Manufacturing was leaving, jobs moving overseas. Its a struggle for a lot of folks. Must be washingtons highest priority. Its my highest priority. Ive got to say its not always washingtons highest priority. Because rather than keeping focus on a growing economy that creates good middle class jobs, you know, weve seen a faction of republicans in congress suggest that maybe america shouldnt pay its bills that have already been run up, that we should shut down government if they cant shut down obama care. You know, that wont grow our economy. They wont help our middle class. We cant afford in washington the usual circus of distractions and political posturing. We cant afford that right now. What we need is to build on the corner stones of what it means to be middle class in america. Focus on that. A good job with good wages. A good education, a home of your own, Affordable Health care, a secure retirement. Bread and butter pocketbook issues that you care about every single day. That youre thinking about every single day. And weve got to create more pathways in the middle class for folks who are willing to work for it. Thats what made america great. Its not just how many billionaires we produce, but our ability to give everybody who works hard the chance to pursue their own measure of happiness. Thats what americas all about. Now, there arent many things more important to that idea of economic mobility, the idea that you can make it if you try than a good education. All the students here know that. Thats why youre here. Thats why your families have made big sacrifices. Because we understand that in the face of greater and greater global competition in a knowledgebased economy, a great education is more important than ever. A Higher Education is the single best investment you can make in your future. And im proud of all the students who are making that investment. And thats not just me saying it. Look, right now, the Unemployment Rate for americans with at least a College Degree is about 1 3 lower than the national average. The incomes of folks who have at least a College Degree are more than twice those of americans without a high school diploma. So more than ever before, some form of Higher Education is the surest path in to the middle class. But, what i want to talk about today is whats become a barrier and a burden for too Many American families. And that is the soaring cost of Higher Education. Everybody knows you need a College Education. On the other hand, college has never been more expensive. Over the past three decades, the average tuition at a public four year college has gone up by more than 250 . 250 . Now, a typical familys income has only gone up 16 . Think about that. Tuitions gone up 250 , income gone up 16 . Thats a big gap. Now, its true that a lot of universities have tried to provide Financial Aid and work Study Programs and so not every student, in fact, most students are probably not paying the Sticker Price of tuition. We understand that. But what we also understand is that if its going up 250 and your incomes are only going up 16, at some point, families are having to make up some of the difference. Or students are having to make up some of the difference with debt. And meanwhile, over the past few years, states have been cutting back on their Higher Education budgets. New yorks done better than a lot of states. But the fact is, weve been spending more money on prisons, less money on college. [ applause ] and meanwhile, not enough colleges have been working to figure out how do we control costs . How do we cut back on costs . So all this sticks it to students, sticks it to families. But also, taxpayers end up paying a bigger price. The averagetudent who borrows for college now graduates owing more than 26,000. Some a lot more than that. And ive heard from a lot of these young people who are frustrated that theyve done everything theyre supposed to do, got good grades in high school, applied to college, did well in school. But now they come out, theyve got this crushing debt thats crippling their sense of selfreliance and their dreams. It becomes hard to start a family and buy a home if youre servicing 1,000 of debt every month. Becomes harder to start a business if you are servicing 1,000 worth of debt every month, right . And meanwhile, parents youre having to make sacrifice, which means you may be dipping into savings that should be going to your retirement to pay for your son or daughters education. So at a time when a Higher Education has never been more important or more expensive. Too many students are facing a choice they should never have to make. Either they say no to college and pay the price for not getting a degree and thats a price that lasts a lifetime, or you do what it takes to go to college but you run the risk you wont be able to pay it off because youve got so much debt. Thats a choice we shouldnt have to accept. And thats a choice previous generations didnt have to accept. This is a country early on made a commitment to put a good education within the reach of all who are willing to work for it. We were ahead of the curve when it came to helping young people go to school. The folks in buffalo understand this. Mayor brown was talking about the city of buffalo and the great work that is being done through the program called say yes. To make sure no child in buffalo has to miss out on a College Education because they cant pay for it. Even though theres a Great Program in this city, a lot of places, that program doesnt exist. But a generation ago, two generations ago, we made a bigger commitment. This is the country that gave my grandfather the chance to go to college on the g. I. Bill after he came back from world war ii. This is the country that helped my mother get through school while raising two kids. Michelle and i, michelle and i, were only where we are today because scholarships and Student Loans gave us a shot at a great education. And we know a little bit about trying to pay back Student Loans too. We didnt come from a wealthy family. We each graduated from college and law school with a mountain of debt. And even though we got good jobs, we barely finished paying it off just before i was elected to the u. S. Senate. Right . I was in my 40s when we finished paying off our debt. And we should have been saving for malia and sasha by that time, but we were still paying off what we got. And we were luckier because most of the debt was from law school. Our undergraduate debt was not as great because tuition had not started shooting up as high. Bottom line is this, weve got a crisis in terms of College Affordability and student debt. Over the past four years, what weve tried to do is take some steps to make college more affordable. So we enacted historic reforms to the student loan system, so taxpayer dollars stop padding the pockets of big banks and, instead, help more kids afford college. What was happening, the old system the student loan programs going through banks, they didnt have any risk because the federal government guaranteed the loans, but they were still taking billions of dollars out of the program. We said lets give the loans directly to the students and we can put more money to helping students. Then we set up a consumer watchdog. And that consumer watchdog is already helping students and families navigate the Financial Options that are out there to pay for College Without getting ripped off by shady lenders. And were providing more tools and resources for students to finance college. And if any of you are figuring out how to finance college, check it out at studentaid. Gov. Studentaid. Gov. Then we took action to cap loan repayments at 10 of monthly income for many borrowers trying to responsibly manage their federal Student Loan Debt. So overall, weve made college more affordable for millions of students and families through tax credits and grants and Student Loans that go further than they did before. And just a few weeks ago, democrats and republicans worked together to keep student loan rates from doubling. And that saves undergraduates more than 1,500 for this years loans. Thats all a good start. But its not enough. The problem is even if the federal government keeps on putting more and more money in the system, if the cost is going up by 250 , tax revenues arent going up 250 . And so at some point, the government will run out of money. Which means more and more costs are being loaded on to students and their families. The systems current trajectory is not sustainable. State legislatures will have to step up. They cant keep cutting support for colleges and universities. Thats just the truth. Colleges are not going to be able to just keep on increasing tuition year after year and then passing it on to students and families and taxpayers. Our economy cant afford the trillion dollars in outstanding Student Loan Debt, much of which may not get repaid because students dont have the capacity to pay it. We cant price the middle class and everybody working to get in the middle class out of a College Education. Were going to have to do things differently. We cant go about business as usual. Because if we do, thatll put our younger generation, our workers, our country at a competitive disadvantage for years. Higher education is still the best ticket to upward mobility in america. And if we dont do something about keeping it within reach, it will create problems for economic mobility for generations to come. And and thats not acceptable. So whether were talking about a twoyear program, a fouryear program, a technical certificate. Bottom line is Higher Education cannot be a luxury. Its an economic imperative. Every American Family should be able to afford to get it. Thats the problem. What are we going to do about it . Today im proposing major new reforms that will shake up the Current System, create better incentives for colleges to do more with less and deliver better value for students and their families. And some of these reforms will require action from congress. So were going to have to work on that. Some of these changes i can make on my own. We are going to have to were going to be partnering with colleges to do more to keep costs down, and were going to work with states to make Higher Education a higher priority in their budgets. And one last thing, were going to have to ask more of students who are receiving federal aid, as well. And ive got to tell you ahead of time, these reforms wont be popular with everybody. Especially those who are making out just fine under the Current System. But my main concern is not with those institutions. My main concern is the student those institutions are there to serve. Because this country is only going to be as strong as our next generation. And ive got confidence [ applause ] i have confidence that our countrys colleges and universities will step up. Just like, you know, the chancellor and other folks are trying to lead the way and do the right thing for students. Let me be specific. My plan comes down to three main goals. First, were going to start rating colleges, not just by which college is the most selective. Not by which college is the most expensive, which has the nicest facilities. You can get all that on the existing Rating Systems. What we want to do is rate them on whos offering the best value so students and taxpayers get a bigger bang for their buck. Number two, were going to jump start new competition between colleges. Not just on the field or the court, but in terms of innovation that encourages affordability and encourages Student Success and doesnt sacrifice educational quality. Thats going to be the second component of it. And the third is were going to make sure if you have to take on debt to earn your College Degree that you have ways to manage and afford it. So [ applause ] let me talk about each of these briefly. Our third priority is aimed at providing better value for students. Making sure that families and taxpayers are getting what we pay for. Today im directing arne duncan, our secretary of education to lead an effort to develop a new Rating System for americas colleges before the 2015 college year. Right now, private rankings like the u. S. News and world report puts out each year their rankings and encourages colleges to how we game the numbers and rewards them in some cases for costs. Are they helping students from all kinds of backgrounds succeed . And on outcomes, on their value to students and parents. So that means metrics like how much debt does the average student leave with . How easy is it to pay off . How many students graduate on time . How well do those graduates do in the workforce. Because the answers will help parents and students figure out how much value a college truly offers. There are schools out there who are terrific values. But there are also schools out there that have higher default rates than graduation rates. And taxpayers shouldnt be subsidizing students to go to schools where the kids arent graduating. That doesnt do anybody any good. And our ratings will also measure how successful colleges are at enrolling and graduating students who are on pell grants. And it will be my firm principle that ratings are designed to increase opportunities for Higher Education for students who face economic or other disadvantages. So, you know, this is going to take a little time. But we think this can empower students and families to make good choices. And itll give any college the chance to show that its making serious and consistent improvement. So they may not a college may not be where it needs to be right now on value, but theyll have time to try to get better. And we want all the stake holders in Higher Education, students, parents, businesses, college administrators, professors to work with secretary duncan on this process. And over the next few months, hes going to host a series of Public Forums to make sure we get these measures right. And then over the next few years, were going to work with congress to use these ratings to change how we allocate federal aid for colleges. We are going to deliver on a promise i made last year. Were going to deliver on a promise we made last year which is colleges that keep their tuition down and are providing highquality education are the ones that are going to see their taxpayer funding go up. It is time to stop subsidizing schools that are not producing good results and reward schools that deliver for American Students in our future. [ applause ] and were also going to encourage states to follow the same principle. Right now, most states fund colleges based on how many students they enroll. Not based on how well those students do or even if they graduate. Now, some states are trying a better approach. Youve got tennessee, indiana, ohio. Theyre offering more funding for colleges that do a better job of preparing students for graduation in a job. Michigan is a state that is changing the incentive structure. And im challenging all states to come up with new and innovative ways to fund their colleges in a way that drives better results. [ applause ] now, for the young people here, i want to say that just as were expecting more from our schools that get funding from taxpayers, were going to have to expect more from students who get subsidies and grants from taxpayers. So were going to make sure students who receive federal Financial Aid complete their courses before receiving grants for the next semester. You know, were well make sure to build in flexibility so were not penalizing disadvantaged students or students who are holding down jobs to pay for school, things happen. But the bottom line is, we need to make sure that if youre getting Financial Aid youre doing your part to make progress towards a degree. And by the way, thats good for you too because if you take out debt and you dont get that degree, you are not going to be able to pay off that debt and youll be in a bind. All right. Second goal, we want to encourage more thank you. Second thing we want to do is to encourage more colleges to embrace Innovative New ways to prepare our students for a 21st century economy and maintain a high level of quality without breaking the bank. Let me talk about some alternatives that are already out there. Southern New Hampshire university gives course credit based on how well students master the material, not just on how many hours they spend in the classroom. So the idea would be if youre learning the material faster, you can finish faster, which means you pay less and you save money. [ applause ] university of wisconsin is getting ready to do the same thing. Youve got Central Missouri university. I went there and theyve partnered with local high schools and Community Colleges so that their students can show up at college and graduate in half the time because theyre already starting to get College Credits while theyre in high school or while theyre in a twoyear college so by the time they get to a Fouryear College theyre saving money. Universities like carnegie mellon, arizona state, theyre starting to show that Online Learning can help students master the same material in less time and often at lower costs. Georgia tech which is a National Leader in Computer Science, Just Announced it will begin offering an online masters degree in Computer Science at a fraction of the cost of a traditional class. But is just as rigorous and its producing engineers who are just as good. So a lot of other schools are experimenting with these ideas to keep tuition down. Theyve got other ways to help students graduate in less time at less costs while still maintaining high quality. The point is its possible. And its time for more colleges to step up with even better ways to do it. And were going to provide additional assistance to states and universities that are coming up with good ideas. Third thing,en ev even as we wo bring down costs for future and current students. Weve got to offer students who already have debt the chance to actually repay it. You know, nobody wants to take on debt. Especially after what weve seen in families have gone through during this financial crisis. But taking on debt in order to earn a College Education has always been viewed as something that will pay off over time. Weve got to make sure, though, that its manageable. As i said before, even with good jobs it took michelle and me a long time to pay off our Student Loans. While we should have been saving for malias sashas College Educations we were still paying off our own. We know how important it is to make sure debt is manageable so it doesnt keep you from taking a job you really care about or getting marry or buying that first home. There are some folks who have been talking recently about whether the federal student loan should make or cost the government money. Heres the bottom line. Government shouldnt see Student Loans as a way to make money. It should be a way to help students. So we need to ask ourselves, how much does federal Student Loans cost students . How can we help students manage those costs better . Our National Mission is not to profit off Student Loans, our National Mission must be to profit off having the best educated work force in the world. That should be our focus. So, as i mentioned a little bit earlier, two years ago i capped loan repayments at 10 of a students postcollege income. We call it pay as you earn. And it, along with some other incomedriven repayment plans have helped 2. 5 Million Students so far. There are two obstacles preventing more students from taking advantage of it. One is that too many current and former students arent eligible which means we have to get congress to open up the program for more students. And were going to be pushing them to do that. The other obstacle is that a lot of students dont know theyre eligible for the program. So starting this year, well launch a campaign to help more borrowers learn about their repayment options and well help more student borrowers enroll in pay as you earn. If you went to college, took out debt, you want to be a teacher and starting salary for a teacher is, you know, lets say 35,000, well, only 10 of that amount is what your loan repayment is. If youre making more money you should be paying more back. But that way everybody has a chance to go to college, everybody has a chance to pursue their dreams. And that program is already in place. We want more students to take advantage of it and were really going to be advertising it heavily. If we move forward on these three fronts, increasing value, encouraging innovation, helping people responsibly manage their debt, i guarantee you we will help more students afford college. Well help more students graduate from college. Well help more students get rid of that debt so they can get a good start in their careers. But its going to take a lot of hard work. Good news is, from what i hear, folks in buffalo know something about hard work. Folks in america know something about hard work. And weve come a long way together these past four years. Were going to keep moving forward on this issue and on every other issue thats going to help make sure that we continue to have the strongest, most thriving middle class in the world. Were going to keep pushing to build a Better Bargain for everybody in this country who works hard. And everybody whos trying to get into that middle class. Were going to keep fighting to make sure that this remains a country where if you work hard and study hard, and are responsible, you are rewarded. So that no matter what you look like and where you come from, what your last name is, here in america, you can make it if you try. Thank you very much, everybody. God bless you. God bless america. President obama speaking there at the university of buffalo, telling a crowd of about 7,200 were told, that the Current System is not sustainable. I want to bring in melissa harrisperry. College professor at tulane, you were listening into the president s speech. What do you make of that . Does it sound like the president has sound ideas about bringing down the cost of college in this country. He talked about the Overall Economic crisis. Thats a critical part of what has increased tuitions. Whats happened is tuition has had to carry a larger portion of paying for school because endowments were hit so very hard, for private universities and state universities cut so much funding to state colleges since 2008. Thats been tough on universities overall. I was, however, very concerned about part of what the president said towards the end where he talked about moving students through school much more quickly and relying increasingly on online education. Those thare things that most College Professors would indicate are probably not good ideas. They might be costcontaining in the short term but in the long term they generate additional problems. You get through school sooner but send 19 and 20yearolds into a job market that is already flooded with young people having difficulty finding a job. Also, you know, look, for those of us who do our work in college classrooms, the idea that its simply about getting information over the web and you can have a similar experience in multihundred thousand person classes on the web as you can in the classroom, i think forgets what College Education is really about. Some good ideas and others made me cringe. Melissa, really quickly, what about those who would say if the idea is to make this information accessible to everyone, to make College Learning affordable for everyone, to folks who cant afford to go to a brick and mortar university, for those who can afford a high Speed Internet connection, why not make that more affordable or easier to access . The evidence demonstrates within we look at the default rates on Student Loans, in fact, the biggest problem is the kind of educational settings that the president was talking about there. Brick and mortar universities, whether lowcost State University or extremely expensive private universities, students who take those loans finishing those colleges. They nonetheless have a College Degree. Default are happening and the difficulty is happening for students in the forprofit sector, much of which happens online, the university of phoenix and others. Students are taking out tens of thousands of dollars in Student Loans, theyre low income, vastly predominantly minority students, they never end up with a degree on the other side of it and they dont end up with the earning potential and power to actually pay back those loans. When you look at the problem, its not the problem of paying for the university of wisconsin or buffalo, it ends up being exactly the kinds of schools that the president was talking about at the end there. Melissa harrisperry, thank you. Catch her every saturday and sunday, 10 00. Well also be in washington wug this weekend, broadcasting as well. Our special coverage of the march on washington, the 50 years since that. Alex wagner will pick it up. President obama takes the fight on the road but the real battle lies ahead in washington. Its thursday, august 22nd and this is now. Congress may have two more weeks left but for the president , vacation is over. Its also over for me, too. Hours ago he began his twoday bus tour through new york and pennsylvania pushing Higher Education reforms as part of his Better Bargain for the middle class. For too long weve seen an erosion of middleclass security. As any middleclass family will tell you, folks here in buffalo will tell you, were not where we need to be yet. Because even before the crisis hit, and a town like buffalo knows something about this, we were living through a decade where a few at the top were doing better and better, most families were working harder just to get by. In buffalo, the president says he planned to make a new College Ranking system. Still, the for College Towns on obamas tour, buffalo, syracuse, binghamton and scranton face st structural problems. Has the train left the station . Has the momentum behind a hollowing out of middle class jobs and the replacement of human beings by machines gained so much strength that it cannot be reversed . Obama has put the role of a revived middle class at the top of his agenda but has not pu