"Built to Last" presentation slides

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An America Built to Last
Martha Kanter, Under Secretary
Montana State University
July 16, 2012
“By 2020, America will once again have the highest proportion of
college graduates in the world... So tonight I ask every American to
commit to at least one year or more of higher education or career
training... every American will need to get more than a high school
diploma.”
President Barack Obama
Address to Joint Session of Congress
February 24, 2009
“America cannot lead in the 21st Century unless we have the best
educated, most competitive workforce in the world.”
President Barack Obama
Remarks on Higher Education
April 24, 2009
“Higher education can’t be a luxury -- it is an economic imperative that
every family in America should be able to afford.”
President Barack Obama
State of the Union Address
January 24, 2012
2
President Obama’s 2020 Goal
Goal
• 10 million more graduates from community
colleges, four-year colleges and universities by 2020
(beyond 2+ million expected due to growth)
Goal
• Every American completes one year or more of
higher education or advanced training in his/her
lifetime
Result
• “Best educated, most competitive workforce
in the world”
3
Higher Education Is an Imperative
Earnings & Tax Payments by Educational Attainment
$120,000
$100,000
$100,000
$91,900
$25,600
Taxes Paid
After-Tax Earning
$23,100
$80,000
$67,300
$60,000
$55,700
$16,200
$13,000
$39,700
$40,000
$33,800
$8,700
$42,000
$9,300
$68,800
$7,100
$20,000
$24,300
$4,700
$19,600
$42,700
$26,700
$31,000
$74,400
$51,100
$32,700
$0
No High
School
High School Some College Associate's
Degree
Bachelor's
Degree
Master's
Degree
Doctoral
Degree
Professional
Degree
Sources: The
College Board,
Education Pays,
The College Board
Education Pays 2010
4
Higher Education Is an Imperative
Projected Education Requirements for Jobs in 2018
Some college
12%
Associate Degree
17%
Bachelor's degree
23%
Graduate degree
10%
High school
graduate
28%
Less than high
school
10%
5
Georgetown University
Center on Education and the Workforce
Help Wanted (2010), p. 14
Declining State Support for
Higher Education
One-Year
Percent Changes
in State Fiscal Support
for Higher Education
Rhode Island 13.1%
Illinois 12.1%
North Dakota 10.4%
Alaska 3.8%
Texas 3.1%
West Virginia 1.7%
Maryland 0.6%
Delaware 0.3%
Hawaii 0.2%
Nebraska -0.5%
Utah -0.8%
Indiana -1.0%
Arkansas -1.3%
Maine -2.1%
New Jersey -2.5%
Iowa -2.6%
Kentucky -3.4%
Montana -3.5%
North Carolina -3.7%
Idaho -4.1%
Alabama -4.7%
Massachusetts -5.3%
New Mexico -5.7%
Mississippi -6.3%
Vermont -6.4%
Kansas -7.0%
Minnesota -7.1%
Missouri -7.1%
New York -7.1%
South Carolina -7.5%
Oregon -8.0%
South Dakota -8.7%
Georgia -11.5%
Ohio -11.8%
Florida -12.0%
Michigan -12.2%
Connecticut -12.2%
Wyoming -12.7%
Wisconsin -13.3%
Pennsylvania -13.4%
California -13.5%
Nevada -14.0%
Oklahoma 14.5%
Washington -14.5%
Virginia -14.7%
Tennessee -14.7%
Colorado -15.4%
Louisiana -18.5%
(FY2012 - FY2013)
6
Arizona -25.1%
New Hampshire -39.4%
Illinois State University Center for the Study of Education Policy
Grapevine Fiscal Year 2011-12 Data – Updated March 15, 2012
The US has Fallen Behind Globally
Percentage of Adults Age 25-34 with Postsecondary Education
(Associate Degree or Higher in US per 2008 Population Survey, US Census Bureau)
7
OECD Education at a Glance 2011
Table A1.3a Population with tertiary education (2009)
Affordability and Quality in
Postsecondary Education
The Administration has outlined a blueprint to
address college access, affordability, quality and
completion:
• Make landmark federal investments in higher
education
• Galvanize the shared responsibility of States,
institutions and the federal government
• Provide students and families with the tools they
need to plan for and afford college
8
Federal Investments in Higher Ed
• Increasing Pell Grants
• President Obama has raised the maximum Pell Grant award to
$5,635 for the 2013-14 award year
• Total Pell Grant recipients have increased by 50% since 2008 –
from 6 million students in 2008 to more than 9 million today
• Direct Savings to Help Students
• Conversion to Direct Loans saved $68 billion dollars over 11 years,
of which $40 billion has gone directly to students
• Help Students Manage Debt
• Income-Based Repayment will allow students to cap repayment
of loans at 10% of monthly income
• Public Service Loan Forgiveness supports students pursuing public
service careers
• The President has called on Congress to freeze student interest
rates at 3.4%
9
Federal Investments in Higher Ed
• Easing Access to Federal Aid
• Simplification of the Free Application for Federal Student Aid
(FAFSA) has helped fuel a 30% increase in applications since 2009
• More than 21 million students will submit a FAFSA this year
• Expand Education Tax Credits
• The American Opportunity Tax Credit (AOTC) provides 9.4 million
students and families with up to $10,000 for four years of college
• The Administration is working with Congress to make this credit
permanent
• Double Work-Study Jobs
• President Obama has proposed doubling the number of federally
funded work-study opportunities over the next five years, so that
more students are able to gain valuable work-related experience
while still in school
10
Shared Responsibility
• Race to the Top – College Affordability and Completion
• A $1 billion competition that will drive systemic State reforms
that lead to increased affordability, quality and productivity at
colleges of all levels
• Campus-Based Aid Reform
• The expansion and revision of the campus-based aid program to
provide $10 billion in aid for use at colleges that most effectively
serve students, contain costs, and demonstrate positive
educational and employment outcomes
• First in the World Innovation Fund
• A $55 million investment in individual colleges and nonprofit
organizations designed to develop, validate or scale up innovative
and effective strategies for boosting productivity and enhancing
quality on campus
11
Students and Families
• College Scorecard
• An online tool that will
make it easier for students
and families to compare
colleges by comparing
information such as
graduation rates, net price,
and earnings data
• Financial Aid Shopping
Sheet
• A uniform financial aid
letter that makes it easier
for students and families to
compare aid packages
offered by different schools
12
Comment at: www.whitehouse.gov
A vibrant and prosperous America – An America Built to
Last - depends on its educational system – in fact, the
future of our democracy depends on the positive
contributions of critical thinkers and engaged citizens.
13
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