BUFFALO, New York -- President Barack Obama says our economy can't deal with the trillion dollars in student loan debt. And there are concerns a lot of students won't be able to pay their debt back.
The President arrived in Buffalo for a two day bus tour to pitch his reforms to help with the cost of college.
We can't go about business as usual, he said. 'Cause if we do that will put our younger generation, our workers, our country at a competitive disadvantage for years.
The President is proposing a rating system where it shows which colleges offer the best value. This isn't just in cost but also how students do in the job world.
We have to work together to make it much more affordable, said Secretary of Education Arne Duncan. Your parents are sacrificing. You're working hard everyday. Your university's doing a great job of keeping down costs, making school more affordable. We've got to make that American dream a reality.
The White House will also encourage colleges to use technology to lower costs. That could mean more online classes and allowing students to earn credits based on how fast they master the material.
If you're learning the material faster, you can finish faster which means you pay less and you save money, said President Obama.
And finally he's giving students some responsibility too. The President proposes if students have grant money, they have to finish classes one semester before they get the money for the next semester.
Two years ago the President proposed for students to pay no more than 10 percent of their income in loan repayments.
He says not enough students know about the program and they will do an awareness campaign so more people take advantage of it.