Obama's 2009 Recovery Act Provides Financial Aid For College!
President Obama's Recovery Act in 2009, wasn't only focused on jobs. The Commander in Chief realized one of the best ways to improve a citizen's income is to advance the person's education. As such, a major part of the Act, $225 billion of it, is dedicated to contracts, grants and loans, including college loans, and $500 million of that will have a direct impact on online colleges.
One of the more inspiring things the President has said is his acknowledgement that: "All along that education pipeline, too many people", he said in a speech last year, "are slipping through the cracks. It's not only heartbreaking for those students; it's a loss for our economy and our country".
He is particularly concerned that only 29% of Americans have a college degree, where many other industrialized nations have more like 40%. Another statistic is only about 40% of Americans who start school actually complete their studies to become a college graduate. The rising costs of education, approximately eight percent per year, means many who start will not be able to finish as costs outpace their abilities to finance.
One of the President's solutions was to dedicate $500 million to colleges for new programs. He wants these courses to be available to students everywhere they can get online access, desktop to the Amazon Kindle. He is also advocating the establishment of twenty to twenty-five new course each year.
A key reason is the overall affordability of online education versus on campus. The Board of Education estimates an on campus degree costs approximately 40% more than going to an online college. The average cost for a 4-year degree is $150,000 going on campus, while USA Today reports the cost of is $65,000 for the same amount of time.
Online classes from accredited colleges are the same as those who attend on campus schools. Taking a class this way absolutely does not mean one is taking anything easy or that passing grades are strewn about like confetti. These classes are as challenging as the top ivy league schools. In fact, some of them are offered by ivy league schools. Thanks to this and with the cost saving element, one easily sees why the President is for online education. Online school means more students for each government dollar spent, with each student getting the same competitive education.
Not surprisingly, there are many money-saving benefits to attending a school from home. The student can continue their work, a feature that is particularly attractive. Many companies, including some of the major players in convenience foods, offer scholarships to employees. If those working for the chain are there for a certain number of hours,
they can get aid, study and work conveniently located. Those with children will appreciate not having to spend money for sitter fees, not to mention transportation costs.
The benefits of the program will benefit both the citizens and the government. A better educated citizenry at a cost-effective price means competition in jobs and a more affluent overall lifestyle. College loans for students are a means to help get your education on track. Researching scholarships and grants for online school will provide you with information for your individual situation. More education means more choices - appreciated at every level.
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