Fact Check: College Affordability
President Obama just discussed efforts to make college more affordable. The problem is, Obamacare made that problem worse. As the Congressional Budget Office noted in its score of the final legislation, Obamacare took tens of billions of dollars in higher education funding and re-directed it to pay for Obamacare. That’s not “reform” – and it won’t help make education more affordable either.
The President also just claimed that he took $60 billion from banks participating in the student loan program and gave it to students. There’s just one detail he left out: The Obama Administration raided those funds by billions of dollars to pay for new health spending as part of Obamacare. Don’t believe me? Look at pages 35 and 36 of the Congressional Budget Office score of the bill. Those graphs illustrate the billions in spending diverted from students to fund Obamacare’s massive new programs.