How many college-bound students would like to have more financial support?
Sounds pretty good right and not much of a catch. All you have to do is go to college to be eligible for funding from the Federal Government of the United States of America.
This funding will be in the form of federal incentives (grants, funding, and financial aid), according to an article in the New York Times.
The Obama administration is offering significant incentives in an effort to encourage people to go to college and earn a degree. It targeted college dropouts, asking them to go back and earn their degrees; then it targeted colleges, asking them to take individual measures to increase their enrollment; then it asked under-represented students. The government tried to make college more accessible to these groups and offered them significant funding.
Now the Obama administration is begging all types of groups and students to go to college in efforts to add 8 million college graduates by 2020, to once again become the world leader in college graduates.
The United States used to produce more college graduates than any other country; however, it now lags behind many foreign countries.
Vice President Joe Biden announced in late March the government’s plans to create a $20 million Comprehensive Grant Program for states that take steps to increase college graduates.
However, the government will put even more dollars in education. It also proposed a $123 million “First in the World” program for colleges that keep tuition low, move students through college faster and produce more graduates along with $50 million in College Completion Incentive Grants that would reward states and schools that produce more college graduates.
“We all know that the best jobs and fastest-growing firms will gravitate to countries, communities and states with a highly qualified work force,” said Secretary of Education Arne Dunca.
To determine how much funding certain states receive, the Obama administration will calculate the state’s estimated share of the eight-million-graduate increase and consider its current college graduation statistics.
Currently, only 28% of young adults in Arkansas, Nevada and New Mexico have college degrees, compared to more than 50% in the District of Columbia, Massachusetts and North Dakota.
Essentially, the government is trying to make it easier for people to enroll in college. It’s hoping to decrease the cost of college by keeping tuition costs relatively low, offering more funding to students and states and making it more accessible to people of all ages.
Nearly three-quarters or young adults pursue some form of a postsecondary degree; however, fewer than half actually earn a degree or certificate within six years.
For America to achieve its goal of ranking first in the world by 2020, every American would have to get at least one year of post-high-school education.