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The growth of college tuition is likely caused by cheap credit that doesn't have to be paid back until after leaving the institution. It causes hidden inflation and burdens the most productive members of society with long term debt. At some point, likely not far in the future, a college degree will cost more than the potential earning gains. It has already happened in Arkansas where the ten year ROI is negative.

When that happens more extensively, there will be a collapse of people going to college. I will find it difficult to pay for both college for my children and retirement. I hope the free options put price pressures on traditional education and force effieciency. The US is unmatched on the quality depth of college education. It is the foundation of our middle class. Hopefully we can solve the issue without a collapse and correction.

The visit to UNC was a campaign stop. Too much effort was put into differentiating himself from Romney, and too little into discussing the problem.

The argument that the source of student loans should be the government vs private investment hides the issue of college costs growing significantly faster than inflation. Students are insulated from the costs by student loans that don't have to be repaid until they leave school. A typical $30K debt, at graduation will hang around student's neck for twenty years or more. Delaying home purchases and investment in retirement, in addition to creating less risk adverse populations. They need to keep their job to pay back the loans.

I was able to pay for college with part time and summer jobs. Is that possible today? UNC is a relatively inexpensive state university, but even with putting money away diligently for my children every month (in addition to funding my retirement), will likely only pay for one to two years of college.

Instead of pumping more money into schools and funding it by putting an economic drain on our most productive future workers, maybe the solution is to reduce the cost of an education.