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Obama Proposes Linking Federal Aid to New College Ranking

President Barack Obama called for tying federal financial aid to a new U.S. government rating of college costs and performance, saying spiraling tuition bills are pricing many U.S. families out of higher education.

The plan would rank similar colleges against their peers, and students who go to highly rated schools would get more aid than those lower in the pecking order. The criteria would include tuition, student debt, graduation rates and earnings of students once they leave school.