During last night’s State of the Union address, President Obama devoted nearly three minutes of his speech to pushing education reform. Amid the president’s proposed spending freeze announced earlier this week, many feared that education spending would take a hit over the next three years. On the contrary, Obama explicitly stated that education reform continues to be a top priority. And judging from the clip above, it seems like everyone across the political spectrum recognizes the need to ensure education for our nation’s youth.

Here’s a breakdown of Obama’s proposed plans:

- End tax subsidies for banks on student loans
- $10,000 4-year college tax credit for families
- Increase pell grants
- Implement new student loan program with the following conditions:

• When students graduate, they will only be required to pay 10% of their income on student loans

• All debt is forgiven after 20 years

• All debt is forgiven after 10 years if a graduate chooses to work in public service

The president also called out college and university institutions, urging them to cut costs and bear their share of the responsibility in solving America’s education crisis. “Because,” stated Obama followed by uproarious applause, “in the United States of America, no one should go broke because they chose to go to college.”