Obama wants to boost grad rates

Here’s CNN’s preview of his speech today.

Here’s the job ahead of him:

… the U.S. would need to add more than 10 million college graduates over the next 10 years.

And here’s a mechanism he wants to use:

The administration plans to fund the initiative by eliminating “middleman” banks from the loan process and provide loans directly to students. That move will free $60 billion to pay for more Pell Grants, Duncan said. The president also plans to increase the education tax credit for middle-class families and increase investment by $2 billion to community colleges.