Obama Unveils College Ranking Plan

President Obama on Thursday announced his plan to implement a new rating system for colleges before the fall of 2015. The system would rank schools based on graduation rates, average earnings of graduates, tuition, and student-loan debt. Eventually those ratings will be tied to federal financial-aid allotment, with more money and affordable loans going to students at higher-rated schools. “We can't price the middle class—and people working to get into the middle class—out of a college education,” Obama said at the state university in Buffalo, where he kicked off his two-day bus trip through New York and Pennsylvania. He noted that plan still needs congressional approval. “We’re going to have to work on that,” he said.