Saturday, May 02, 2009

Obama Education Plans

Honestly, first I had seen of this. Obama himself may be the best advertisement for the power of a good education but it will take some time. I still see too many people around here whose kids or themselves are dropping out of high school.

Proposals Would Transform College Aid - washingtonpost.com
If adopted, they could transform the financial aid landscape for millions of students while expanding federal authority to a degree that even Democrats concede is controversial.

At stake is a plan to expand the Pell Grant program, making it an entitlement akin to Medicare and Social Security. Key to the effort is a consolidation of student lending that would give the U.S. Department of Education a near monopoly over the practice -- a proposal that has mobilized the private loan industry, which lent $55.3 billion to 6.4 million students in the 2007-2008 school year.

Obama outlined his initiatives, which also include incentives for colleges to cut costs and to raise graduation rates, in the fiscal 2010 budget that Congress approved Wednesday, and Democratic leaders said they hope to make them law by October.


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