Over the weekend Mitt Romney’s campaign issued press releases, pegged to visits to key swing states, listing the purported failures Obama’s first term. Headlines such as “FOUR YEARS OF BROKEN PROMISES FOR VIRGINIA” and “AMERICAN FAMILIES ARE STRUGGLING IN THE OBAMA ECONOMY” lead to lists of facts about the hardships the country faces, from large numbers of home foreclosures to high gas prices.
One statistic in particular stands out, especially in light of Romney’s effort to woo young voters: “Since President Obama Took Office, The Average Cost Of College Has Increased By 25% At Four-Year Public Schools Across The Country.” This fact, while technically true, is wildly misleading. It doesn’t adjust for inflation. Adjusted for inflation the percentage increase is 21.7 percent. That’s much too high, but is it Obama’s fault?
The president does not control tuition at state institutions. But he has attempted to mitigate rising tuitions through financial aid to needy students. Obama doubled funding for Pell Grants, created a tuition tax credit worth up to $10,000 over four years and capped student loan payments.
The result is that the actual price that students pay for college has barely risen at all. The College Board crunched the numbers and found, “Between 2006-07 and 2011-12, average published tuition and fees at public four-year colleges and universities increased by about $1,800 in 2011 dollars, an annual rate of growth of 5.1% beyond inflation. The average net tuition and fees in-state students pay after taking grant aid from all sources and federal education tax credits and deductions into consideration increased by about $170 in 2011 dollars, an annual rate of growth of 1.4% beyond inflation.” So this supposed 25 percent increase is really just an increase of $170. That pretty much demolishes Romney’s point.
But no one would argue that Obama’s efforts have eliminated the problem of college affordability altogether. At best, they’ve merely temporarily softened it. So while Romney’s attack on Obama may not be fair, it would still be theoretically possible for him to offer students more in the future.
But Romney has offered no plan of his own for college affordability. As Inside Higher Ed notes, “Education is not even mentioned on his campaign website’s list of ‘issues.’” And he supports Representative Paul Ryan’s (R-WI) budget that proposes enormous cuts to domestic social spending. This would cut Pell Grants dramatically. On Tuesday Senate Republicans filibustered the Democratic effort, backed by the White House, to pass legislation that would prevent student loan interest rates from doubling.