President Barack Obama is wooing students and parents on the campaign trail by claiming he will halve the cost growth of college over the next ten years.
But that would still leave parents and students paying $23,000 a year in 2022-2023, according to forecasts.
“I want to cut the growth of tuition in half over the next 10 years,” he declared at a Nov. 5 rally in Cincinnati, Ohio. “That’s my plan. That’s what change is. That’s what we’re fighting for in this election.”
College costs are currently growing at roughly 5 percent a year on average, so even his halving of cost growth would leave future students facing massive bills that could deter many from going to college, and leave many graduates with huge debts in their 20s.