Boost for Higher Education
Thursday, July 1st 2010
Times are tough. Families and individuals are having a harder time paying for college; this is coupled with educational institutions increasing their rates and bank loans becoming more difficult to obtain and costing more. According toBarackObama.com, between 2001 and 2010, two million academically qualified students will not go to college because they cannot afford the expense. The numbers are more staggering when broken down into various subgroup populations.
President Obama has implemented a plan to make higher education more accessible. The plan’s components include: expanding Pell Grants by increasing the funds available and making them an entitlement program rather than beingfunded through an annual appropriations process—Pell Grants do not have to be paid back; creating a tax credit for students; simplifying the financial aid process; implementing early assessment programs for high-school students—to increase the awareness of college readiness; cultivating a community college partnership program that builds capacity in community colleges—to provide technical training for students’ seamless transition into the workforce; and increasing aid and decreasing costly loans by restructuring or eliminating private loan programs.
The idea is that by providing every American the opportunity to attend, afford, and be successful in college, the American workforce will be competitive within the global marketplace, and result in strengthening the U.S. economy. “President Obama is committed to ensuring that America will regain its lost ground and have the highest proportion of students graduating from college in the world by 2020.” (www.whitehouse.com)