Obama vs. Romney on higher education

President Obama 

What he has done:

1. The maximum award for the Pell Grant has been raised to $5,635 since 2008. 

2. Government subsidies for federal student loans have been ended as part of the Health Care and Education Reconciliation Act. All new federal student loans will be direct loans.

3. The American Opportunity Tax Credit provides up to $10,000 in tax credits for four years of college for families earning up to $180,000.

4. Promoted the collaboration between community colleges and business to ensure those students are getting the skills they need.

What he will do:

1. Propose reforms in student aid that would shift federal aid to the colleges that set responsible tuition policies and provide good value to students.

2. Propose a “Race to the Top” to promote “systemic state reforms to reduce costs for students and promote success in our higher education system at public colleges.”

3. Wants to lower the repayment cap in the “Pay as You Earn” plan from 15 percent to 10 percent. This is an income-based repayment plan for responsible student borrowers that bases their repayment amount on their monthly income.

4. Increase transparency through a College Scorecard and a Financial Aid Shopping Sheet, allowing students to assess colleges at a glance.

The White House’s official website

Governor Romney 

What he has done:

1. He is governor of Massachusetts where schools have been ranked among the best in the nation.

What he will do:

1. Strengthen and simplify the financial aid system by making the Department of Education more efficient and giving families with financial need the information they need make intelligent decisions about higher education.

2. Welcome private sector participation instead of pushing it away by reversing the part of the Health Care and Education Reconciliation Act that excludes the private sector from federal student loans.

3. Replace burdensome regulation with innovation and competition by “emphasizing skill attainment instead of time spent in the classroom, and supporting research and development.”

4. Promote traditional four-year education along with two-year degrees, occupational certificates, and apprenticeships as appropriate options for certain fields.

Mitt Romney Website