President Obama puts out the plan for federal grading system can help reduce tuition costs.
In his talk at SUNY Buffalo on student loan issue, the President laid out a plan to credit the colleges and institutions that lowers the educational costs by making adjustment to federal aid money.
The cost of education rose 250% in the past 30 years, a rate significantly higher than the inflation rate.
At SUNY Bufflo, the annual costs for tuition and other living expenses are estimated at $20,283 (New York state residents) and $32,223 (out of state residents). The federal loans amount to $1 trillion.