Obama, Biden set to make appearance at Pa. college

President Obama and Vice President Biden are expected to speak in Pennsylvania Friday. They will make an afternoon appearance at Lackawanna College.

The stop is part of a two-day bus tour discussing college affordability and student debt.

The President made a stop at the University of Buffalo on Thursday. There, he said a new rating system will be in place starting in 2015. It will rank schools based on taxpayer money spent versus student performance and value.

Tuition, scholarships and loan debt, graduation rates, and earnings of graduates will all factor into the rankings.

“It is time to stop subsidizing schools that are not producing good results and reward schools that deliver for American students and our future,” Obama said.

The plan is likely a tough sell on Capitol Hill, but the Obama administration said it doesn't need Congressional approval.

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