New Options For Financial Aid Help Students Complete Their Degree

Article Written By: Michelle Conner

It could be that student loans were merely a start. Since the Barack Obama Administration's student loan overhaul last year, Tony Miller has suggested an overhaul of financial aid in its entirety. Miller, who is Deputy Secretary for the US Department of Education, wants financial aid to help students obtain degrees, rather than simply provide them access to college and university studies.

Degree completion has been a focus ever since the Obama Administration challenged Americans to help the United States reclaim its top worldwide ranking in the number of college and university degree holders. The difference in academic achievement between Americans and residents of other countries could have cost the American economy more than $2 trillion in output in 2008, according to research from McKinsey and Company, which also cited hundreds of billions in economic losses as a result of achievement gaps having to do with ethnicity, income levels and school systems. Getting more information about government grants can be to your benefit.

To reach the Obama Administration's goal by 2020, Miller said, three in five young adults have to obtain a college or university degree as compared with the two in five who do today. He spoke at a Federal Student Aid conference in November and suggested that financial aid be strengthened in ways other than adding money to the tuition assistance that's available. He also cited a McKinsey and Company report noting that the Obama Administration's goals can be reached if colleges and universities increase their average degree productivity, measured by cost per degree, instead.

To complete their bachelor's degree programs, former students of a Colorado university are able to receive scholarships from the institution. These students can, depending upon the academic credits they need, receive scholarships of as much as $1,000 as part of what's known as a "CU Complete" program. The Colorado University over the past 1.5 years has enrolled some 23 of more than 37 students contacted. As part of the CU Complete program, these 23 students have been provided scholarships totaling $23,000, an article in the Daily Camera newspaper noted. Colleges and universities, education groups and state governments are doing their part in trying to help students.

The non-profit College Board provides examples of policies in states such as Kentucky and Michigan, which respectively provide adults with financial aid information and as much as $5,000 in financial aid to complete two years of studies at community colleges; Virginia, where students receive $1,000 incentives to transfer to a four-year college or university to train for in-demand careers after obtaining an associate's degree at a two-year college; and Oklahoma, where low-income students as part of a Promise Scholarship program agree to maintain a minimum 2.5 grade point average in demanding high school studies and complete the Free Application for Federal Student Aid (FAFSA).

The number of Latinos who have college and university degrees specifically might increase as a result of efforts made by a group known as Excelencia in Education. With a population of nearly 49 million, Latinos are the largest racial or ethnic minority in the United States, according to Excelencia in Education. The group also cites a report suggesting that, by 2025, Latinos are to comprise nearly 25 percent of those who are college or university aged. Excelencia in Education has focused on states such as Florida, where its recommendations included educating middle school students and new mothers in hospitals about higher education and the costs involved. There is an abundance more information about grant for online college on the web.

Financial aid administrators, Miller suggested, might consider that their job responsibilities involve helping students to succeed in colleges and universities, rather than simply providing them access to these institutions. If the examples of scholarships that Miller provided are any indication, financial aid itself might even affect graduation rates. He told of how Arkansas and Georgia residents with grade point averages of at least 3.0 are able to receive full in-state public college and university tuition through HOPE scholarships and how the number of students continuing their studies toward a bachelor's degrees as a result of these scholarships have been shown to increase by as much as 10 percent. Students benefiting from Promise scholarships in West Virginia, Miller added, must also take enough courses each semester so that they graduate on time.

About the Author

You can find more information on course online at Education Connection Online when you want to explore educational assistance further.

You Can Link Directly to "New Options For Financial Aid Help Students Complete Their Degree" by using the url:
http://www.allbestarticles.com//family/college-and-school/new-options-for-financial-aid-help-students-complete-their-degree.html

This Article Has Been Published on Mon, 11 Apr 2011 and Read 286 Times

Find All Best Articles at http://www.allbestarticles.com

Rating: Not yet rated

Comments

No comments posted.

Add Comment

You do not have permission to comment. If you log in, you may be able to comment.

Related information on College and school

Things to consider While Choosing a College
Teaching In The State Of Connecticut Requires Certification
Do Not Permit The High Cost Of College Tuition Stop You From Returning To School
Cutting Down Lofty College Tuition Costs
New Options For Financial Aid Help Students Complete Their Degree
The Many Benefits Of Attending Summer School
Getting A Degree In English Can Prepare You For Many Career Choices
An Associate Degree Program Will Get You Started Faster
Best MBA Colleges in India
A Homeland Security Degree Will Support Us In Many Different Ways
Training for a Career In Radiologic Technology
How Is University Education Extremely Essential
Vital Points To Note With College Education
The Benefits of Getting a Paralegal Degree in Illinois
Facts About Earning A College Education For You
Employers Need Trained Welders More Than Ever Before
University Scholarships Are Available For Many Different Reasons!
42 Days to CAT 2010:Important rules of Grammar for VA
College Financial Aid Mistakes
Different Types of Colleges and Universities in Nashville TN
Summer Jobs for Student Entrepreneurs
Applying To Art College
Bachelor Of Fine Art Degree Colleges
Bachelor Of Fine Art - A Better Career Opportunity
Colleges MA - Best In Education