 The nation's soaring college debt has been called a ticking time ball. To offset this burden on middle income students, UC Berkeley has implemented the middle class financial aid plan. Formerly known as the middle class access plan, this initiative applies to families within an $80,000 to $140,000 income range. The plan caps the total yearly cost of an eligible student's education, including tuition, housing and book expenses, at 15 percent of their family's total income. So we implemented the plan, like I said, because we're seeing a trend that as the state has pulled support away from the UC system and public education in general, the university has been forced to raise tuition and fees to make up for some of that revenue and that puts the burden on students and families. The program will cost between $10 to $12 million per year and will be paid for by philanthropic donations as well as revenue from out-of-state students. However, the campaign is unsure about long-term funding. We have what we need for the short term and we're setting the foundation to be able to sustain the plan in the long term. We really have a commitment to do so, but we are still in the midst of piecing the funding together from its various sources. This plan comes at a time where student debt has surpassed credit card debt. Rising tuition has put significant blocks and restraints on what I can do in the future. For example, as a freshman, I'm now over $25,000 in personal debt. I've had to start working a lot more. Last semester, last spring, I was working two jobs to help pay for my living expenses as well as some of the tuition and it's definitely taken a hit on me. We have seen a growth in the average debt level that undergraduates are graduating with. We think it's too high. We want Berkeley to be accessible for anybody who's qualified to come here, not to make a decision based on finances. Currently four in ten Cal students pay no tuition, which is instead subsidized by the current UC Blue and Gold Opportunity Plan for low income students, as well as state and federal grants. The university expects that between four and six thousand students will benefit from the new middle class access plan, which will be implemented in fall 2012. The chancellor has made it one of his top three priorities for the university affordability. The plan has inspired politicians like assembly speaker John Perez, who recently launched the middle class scholarship plan to provide assistance to students whose family income is under $150,000 but who are not eligible for financial aid. The bill is currently being reviewed by the assembly committee on higher education. So we think we're changing the conversation about affordability at a public university and leading the way to have a broader conversation about who should be getting financial aid and what that should mean. UC Berkeley's middle class access plan isn't perfect, as students have voiced concerns. I wish that the middle class financial aid plan would include out of state students. Personally, I just wish we could see it expanded a little more, or take into account families with a large number of children or, you know, extending circumstances. I really think it's an exciting thing that the university is taking on. I think it's going to be a great model for other universities to do as well. However, excitement surrounding the plan is clear, as UC Berkeley is the first public university in the U.S. to implement a program of this kind. For CalTV, I'm Jasmine Siegel.