According to the new policy planned by Obama on his site: http://www.barackobama.com/issues/education/

Create the American Opportunity Tax Credit: This universal and fully refundable credit will ensure that the first $4,000 of a college education is completely free for most Americans, and will cover two-thirds the cost of tuition at the average public college or university and make community college tuition completely free for most students. Recipients of the credit will be required to conduct 100 hours of community service.

That comes out to $40 per hour for community service.