MIT earns spot at No. 1 overall for value, inclusion and retention, while UCLA leads pack of publics at No. 5.

As Democrats and Republicans weigh in, there is concern that his plan could exceed $1 trillion.

Last week, U.S. Sen. Rick Scott, R-Fla., showcased his “Changing Our Learning, Loans, Endowments, and Graduation Expectations (COLLEGE) Act,” which he brought out at the start of August.

While Democrats and philanthropy groups rejoice, Republican leaders call the president's decision to push ahead on the massive plan 'bloated' and 'political'.