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Today the entire nation knows about the spiralling cost of college tuitions thanks to Occupy movement. There is a sense of urgency in Arne Duncan, our education secretary’s plea to universities and colleges to find ways to cut down costs and reduce debt for students. He asked them to think in a creative manner and come up with ideas.

He spoke at a conference of college financial aid workers held at Las Vegas. His speech was characterized by the education department as the first step towards dialogue on a national level regarding high cost of education.

This is clearly in response to the nationwide protests. Borrowers are pushing angrily for federal grants, debt forgiveness and interest free loans. Obama administration has taken many steps to try and reduce burden on students and parents by reducing the net price they have to pay for education and this fact was called to attention by the department.

The rising unrest and furore over high tuition costs are clearly being taken heed of by the administration. They have sprung into action also because of the ongoing online debate about whether in the present job situation where fewer jobs are available for graduates; it is actually worth completing a college degree.

Mr. Duncan said that college degree today is too expensive for three out of four Americans. The average debt load college seniors graduate today is around $25,000. According to experts, we are on a national treadmill as tuition continues to rise absorbing any amount of federal financial aid.

Education experts also feel that there is no way a force change can be brought about by the Obama administration. American Council on Education Senior Vice President Terry W. Hartle welcomed Duncan’s speech but was not optimistic about how much the federal government can accomplish.

He pointed out that states cannot be forced to maintain higher education funding even if the government provides financial aid to ease burden of tuition. This is because there is no mechanism in place that can make them do so. He also said that what legislators see is high enrolments and tuition.

Mr. Duncan detailed three initiatives he has used for K-12 reforms that could work here too. He said that plans are in place to provide low cost, campus based student loans depending on the performance of campus in graduating Pell recipients as a replacement for the expiring Perkin loan program.

He also said that institutions and states will receive incentive grants for bringing about strategic changes to enhance completion rates. Another plan is to support innovative programs by offering funds to hold down tuition and accelerate learning.

Duncan pointed out that even though college education is very expensive now, it is imperative to view this as an investment as students with college degrees earn much more in their lifetime than those with just a school diploma.

He greatly appreciated state programs, universities and colleges that cut down on tuition, the list incidentally being very small. We just have to wait and see how far these last minute plans will hold up and achieve.