University Business - April 2009 - (Page 24)

financial aid changes to federal student aid since the passage of the Higher Education Act in 1965,” says American Council on Education President Molly Corbett Broad. Referring to the proposed changes to Pell Grants and the student loan program, Broad continued, “In any other budget year, proposing even one of these changes would be considered dramatic. Proposing both of these together is truly extraordinary.” The combination of student aid funding in the stimulus package, President Obama’s rhetoric in his address to Congress, and the administration’s FY 2010 budget blueprint make it clear that higher education access and successful completion will be a top federal priority in the coming years. This is a welcome sign to higher education, which has suffered stagnating federal support in recent years to make way for other spending priorities. OppOrtunity fOr imprOvement Reversing persistent disparities in college degree attainment among students with different backgrounds would go a long way toward achieving President Obama’s higher education goals. Currently, income level and race/ethnicity can be a bigger determinant of college access and success than academic preparation. The students that are least served by our higher education system—low-income, black, and Hispanic—are also the fastest growing U.S. populations. The number of students from all backgrounds who attend college has increased, but significant enrollment gaps for black and Hispanic students and for students from low-income families have not been reduced, according to “Measuring Up 2008.” Nearly three out of four white high school graduates will enroll in college next fall, compared to 56 percent of black high school graduates and 58 percent of Hispanic graduates. 24 | April 2009 The report shows that the disparity between upper- and lower-income students is even more pronounced. More than 90 percent of high school students from families making more than $100,000 enroll in college, compared to 78 percent of students from families making $50,001 to $100,000, and 52 percent of students from families making $20,000 and less. Ushering in a new era of financial aid and higher education attainment will not be easy. Not surprisingly, these gaps also persist when it comes to successful college completion. Nearly 60 percent of white students complete a bachelor’s degree within six years, according to the report. The same is true for only 47 percent of Hispanic students and 41 percent of black students. Generally, financial barriers are a greater obstacle for the student groups that have historically been underrepresented in higher education. By making student aid and higher education a top funding priority, Obama is taking an important first step toward eliminating the persistent educational disparities in the United States. Challenges Bucking educational trends of the past three to four decades and ushering in a new era of financial aid and higher education attainment will not be easy. It will also require a concerted effort by all parties involved. At the federal level, the Obama administration must overcome many hurdles to accomplish its student aid goals. Assuming the economy recovers in the near future, the federal government will face historic budget deficits that will require the administration and Congress to choose among spending priorities. While Obama has made it clear that higher education spending will be one of his priorities, he will face stiff opposition from some congressional lawmakers who have different spending priorities. In addition, his proposal to eliminate the Federal Family Education Loan Program is drawing vocal criticism from the student loan industry and industry supporters in Congress. Issuing a budget blueprint with bold changes for student aid was the easy part. Getting it passed by Congress will require a monumental effort. In his February 24 speech before Congress, Obama emphasized that the federal government is not the only entity responsible for increasing education levels in the country. “I speak to you not just as a president but as a father when I say that responsibility for our children’s education must begin at home,” Obama said. This followed his earlier comment in the speech that “it is our responsibility as lawmakers and educators to make this system work. But it is the responsibility of every citizen to participate in it. And so tonight, I ask every American to commit to at least one year or more of higher education or career training.” Like Obama, some in the private sector are also making college access and success a top priority. The Bill and Melinda Gates Foundation recently announced it will work to double the annual number of low-income students under the age of 26 who earn a postsecondary degree or certificate by 2025. The foundation plans to spend $500 million over the next three years to institute the first phase of its plan: encouraging promising initiatives at community colleges. It remains to be seen if these recent developments will lead us into a new era in student aid and college access and success, but I believe this is the direction in which the country is headed. universitybusiness.com http://www.universitybusiness.com

Table of Contents for the Digital Edition of University Business - April 2009

University Business - April 2009
Contents
Editor's Note
Company Index
Advisory Board
College Index
Behind the News
Sense of Place
Viewpoint
Internet Technology
Financial Aid
The Main Event
Software Serves
Managing the Experience
Independent Outlook
What's New
End Note

University Business - April 2009