Putting Education Reform To The Test

President Obama Outlines New College Rating System

President Barack Obama says college financial aid should be based on school performance — such as graduation rates. Gov. Rick Scott is pushing a similar model in Florida.

Obama said he would push Congress to pass laws that would divvy up financial aid awards based on the new ratings system.

Currently the federal government awards more than $150 billion in financial aid based on the number of students enrolled per college. Obama wants to change that model and tie financial aid to college value, with graduation rates, transfer rates, degrees earned and average student loan debt all playing a role.

Read more at: money.cnn.com

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