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LAWRENCE, Kan. (AP) — Independent candidate for Senate Greg Orman says colleges that receive federal dollars should be barred from raising costs to students above the rate of inflation.
During a news conference Tuesday at the University of Kansas, Orman says college costs are holding back business growth, despite previous government plans to ease the burden of paying for higher education.
Orman's plan would cap government lenders' profit margins on college loans at the rate of 10-year Treasury bonds, plus 1 percent for administrative costs.
Orman says the policy would not require additional government bureaucracy. The government already keeps the statistics, but isn't doing anything with them to curb costs, he says.
Orman is in a close race with three-term Republican Sen. Pat Roberts.
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