President Obama’s New Budget Adds Funds For Higher Education

Career College Central summary:

  • President Obama this week unveiled a 2015 education budget plan with more funds for Pell Grants and a new initiative designed to spur innovation at historically Black colleges, Hispanic-serving institutions and other minority-serving universities. While most programs for low-income students would gain small increases or see their funding frozen, a major theme of the new budget is targeted investments. In addition to the new initiative for minority-serving colleges, the president also proposed an incentive fund to support colleges that are graduating more financially needy students.
  • Education Secretary Arne Duncan said the goal is to “reward colleges that graduate many low-income students and encourage colleges to improve performance in that area.” Covering the fiscal year set to begin in October, the budget includes a $100 increase in the top Pell Grant, meaning that the neediest students could receive a grant of $5,830 next year. Overall, the budget would commit nearly $34 billion for Pell in 2015.
  • The proposed College Success Grants for Minority-Serving Institutions would receive $75 million in start-up funding. Colleges could apply individually or through consortia in a competitive grant program that includes these areas of emphasis:

    • Partnering with school districts and schools to provide college recruitment and awareness;
    • Establishing high-quality, dual-enrollment programs for high school students;
    • Redesigning high enrollment courses, based on evidence, to reduce costs and improve student outcomes;
    • Providing need-based student aid with incentives for on-time completion; and
    • Providing comprehensive academic and non-academic student support services.

Click through for full article content.


Leave a Reply

Be the First to Comment!

Notify of