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President Barrack Obama is scheduled to visit Austin on 10th May. A source from the Democratic Party said that the president will stop by in the city to attend a fundraising. Last week it was announced by our President that he wants re-election in the year 2012. According to reports, he is expected to formally announce his bid to hold the re-election. In August last year in his speech at the University of Texas the president listed out to students the advantages of higher education.

Speaking to hundreds of students at the University last year our President said that the administration is trying hard to provide the middle class with more tax credits as well as simplify the process of applying for financial aid programs sponsored by the federal government.

Hundreds of students sat for hours waiting for the President’s arrival at the University of Texas. That was the first visit of Obama to Austin after becoming president. The President explained the significance of higher education to the students at the university’s Gregory gym. Obama said that a higher amount of college graduates will help the Unites States to overcome the current economic problem.  

The President said that just in one generation the nation has dropped from the first position to the twelfth in the rate of college graduation of the young adults. Obama said that this is not acceptable but at the same time not even irreversible. President Obama claimed that his administration possesses a strategy of reducing the costs of higher education and increasing the rate of graduate students throughout the country.

Obama said that first of all the costs of college education should become much more affordable which will offer every American with the opportunity to pursue higher education. Our president said that he is fully committed to make sure that no American is denied the opportunity of going to college or no one is denied an opportunity of pursuing their dreams just because they are not capable of affording it.

He said that our country is a better nation and must act like that. The President did not elaborate on how his administration will lower down the increasing tuition rates in details but he asked that administrators of the universities to help in reducing costs of college education. According to a study in recent times, the operating costs of the universities are continually increasing.

Due to the administration’s inability to control the expenditures the tuition rates in Texas has increased annually at an average rate of about 8.96%. However, the recent legislation will help students in baring the cost. The president noted the success of his administration in transferring 60 billion dollars to the college students of the future in the unwarranted subsidies.

This legislation has eliminated the capability of the private lenders to make student loan in favor of direct lending from the government. The President said that money is redirected for making college education much more affordable as well as upgrading the community college system of the Unites States.