Source:The Maroon
One of President Obama’s major goals for higher education is to make it more affordable for more people. Obama wants to have the most college graduates in the world by 2020 and cut college tuition in half by 2022.
“President Obama has proposed expanding federal financial aid programs to increase access to higher education. He believes education is important in making the economy competitive in the twenty-first century. But it comes down to what Congress will agree to,” Cathy Simoneaux, interim director of the Office of Scholarships and Financial Aid, said.
During his first term, President Obama made progress in this field,
ending bank subsidies, doubling investments for Federal Pell Grants, which are grants awarded to undergraduate students from the federal government that do not have to be repaid. Currently they have a maximum value of $5,550. He also established a college tax credit. During his first term in office, he stopped student loan repayments at ten percent of family income and forgave loans after 20 years. His gainful-employment legislation insures that graduates’ loans are proportional to their earnings at for-profit colleges.
“For-profit colleges especially have a bad track record for recruiting students and encouraging them to take out loans, with the promise that they will get jobs after graduation. We need these loan regulations,” Philip Dynia, associate professor of
political science, said.
President Obama also invested
in community colleges to provide education and career-training programs. By implementing and expanding the post-9/11 G.I. bill, more than 800,000 veterans were able to pursue a college education. The G.I. bill gives educational benefits for up to 36 months to those serving 90 days or more in the military since Sept. 11, 2001. It also allows veterans to transfer benefits to their dependents.