Investment in the Next GenerationView Romney's stance
President Obama believes a good education can't be a luxury—it's an economic imperative that leads to good jobs and a strong and growing middle class. That's why he set a goal for America to once again have the highest proportion of college graduates in the world by 2020.
President Obama knows what it's like to work hard to afford college, and he's experienced the power of a strong education firsthand. He knows investing in our schools is the best way to ensure that future generations can compete in and lead the global economy.
- President Obama cut more than $60 billion in wasteful subsidies to big banks so we can instead invest in students. He used the savings to expand Pell Grants to help millions more students afford a college education.
- He created and extended the American Opportunity Tax Credit, which is worth up to $10,000 over four years and helps lower the cost of college tuition for more than 9 million students and families by up to $10,000.
- He also capped income-based federal student loan payments at 10% of monthly income, which will help more than 1.6 million students manage their payments each month as soon as this year.
The President's Race to the Top initiative is encouraging local solutions to education challenges. Already, 46 states have raised their standards for teaching and learning.
President Obama is offering schools a new deal:
- Offering states relief from the burdensome mandates of the No Child Left Behind law, as long as they create their own rigorous, comprehensive plans to improve outcomes for students, close achievement gaps, and ensure that teacher evaluations don't force them to teach to the tests.
- Giving them the resources to prevent more teacher layoffs while attracting and rewarding great teachers.
- Supported 400,000 educator jobs and is proposing additional measures to save and add an additional 325,000 teachers
Students: on your own under Mitt RomneyView Obama's stance
The President believes that investing in education is key to a strong and growing economy—a stark contrast to Mitt Romney's advice to students that they "shop around" for more affordable tuition or borrow money from their parents:
- Romney would let the American Opportunity Tax Credit expire, hurting more than 9 million hardworking families trying to send their children to college.
- In Romney's first year as governor of Massachusetts, K-12 public schools saw the second-largest percentage cuts per student in the country. Under Romney, state college costs skyrocketed, and when he left office, Massachusetts' state colleges were among the most expensive in the country. Today, he's proposing a national school voucher program with no plan to fix failing schools.
- Romney has refused to stand by teachers in calling for more manageable class sizes, writing that the effort to keep class sizes down "may actually hurt education more than it helps."