WASHINGTON – The average cost of a college education has nearly tripled over the past four decades, and there’s no sign it’s slowing down.
The White House is currently engaging in another controversial effort to erase college loans on the back end, even though the Supreme Court ruled against President Biden’s first attempt last summer.
This time the Biden administration plans to send an email to 153,000 people, informing them they qualify for student loan forgiveness that would cancel $1.2 billion in debt.
On Capitol Hill, House Republicans say they have a solution to stop students from getting priced out of college in the first place.
The average annual cost of a public 4-year university was just under $11,000 per year for in-state students last year. That number goes up to about $28,000 if you’re out of state.
North Carolina Republican Rep. Virginia Foxx says it’s out of control. “I want to preserve in this country the opportunity for people to get a good education and work hard and succeed,” she said.
Foxx’s College Cost Reduction Act aims to lower the cost of school by shifting some of the student debt to the colleges themselves.
“Colleges have no incentive whatsoever to
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