President Obama will pressure colleges and universities to change their behavior by ranking them according to a government formula that measures tuition, minority enrollment, graduation rates, student debt, and graduates’ earnings.

“We’re going to start to rank universities, understand who’s doing a good job and who’s not, and ultimately start to move financial aid, move resources, towards those universities that are very serious about this mission,” Education Secretary Arne Duncan told MSNBC Thursday morning.

“Right now, we put out about $150 billion dollars in grants and loans each year, but it’s all on inputs on the front end, not on the back end; and we have so many universities that are trying to do the right thing; we have states that are starting to invest more: We want to incentivize the good acctors, and say to those that aren’t serious about containing costs, that aren’t serious about graduation rates, ‘Hey, you have to change your behavior.”

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