With the number of college graduates working minimum wage jobs nearly 71% higher than it was a decade ago, and the average graduate leaving college with $29,400 in debt (crushing their hopes of leveraging up to buy that American Dream-creating house), President Obama has unleashed a double whammy of ideas in the last few days. Reducing mortgage insurance and cutting down-payment restrictions for FHA loans (i.e. providing huge leverage to segments of society to repeat the mistakes of the last housing bubble); and now, as The LA Times reports, [5] President Obama says he is rolling out a plan to make two years of community college free, or nearly so, to every student across the country. Because it's "fair"?
President Obama says he is rolling out a plan to make two years of community college free, or nearly so, to students across the country.
“What I’d like to do is to see the first two years of community college free for everybody who is willing to work for it,” Obama said in a video filmed on Air Force One and posted on Facebook on Thursday.
Obama’s announcement comes ahead of a visit Friday to a community college and technical center in Knoxville, Tenn., as part of a trip designed to preview his policy plans for 2015.
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Just what this nation needs... more higher-educated, taxpayer-funded citizens demanding higher-paid jobs ("well we have a community college education now") when all the jobs being 'created' are waiters, bar staff, and shale oil workers (oh wait... not them)
Unintended Consequence #546278283: Community College fees soar for non-qualifying-for-handout Americans...
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Moar Free Stuff...
Via President Obama's Facebook page...
“Put simply, what I’d like to do is to see the first two years of community college free for anybody who’s willing to work for it,” he said. “It’s something we can accomplish, and it’s something that will train our workforce so that we can compete with anyone in the world.”
Obama said a world-class education starts with children, but that adults need training, too. “It’s not just for kids, we also have to make sure that everybody has the opportunity to constantly train themselves for better jobs, better wages, better benefits.”
The America’s College Promise proposal could save eligible students $3,800 a year in tuition, the White House said.
According to the White House, here are the requirements for the program:
What students have to do: Students must attend community college at least half-time, maintain a 2.5 GPA, and make steady progress toward completing their program.
What community colleges have to do: Community colleges will be expected to offer programs that are either 1) academic programs that fully transfer credits to local public four-year colleges and universities, or 2) occupational training programs with high graduation rates and lead to in-demand degrees and certificates. Community colleges must also adopt promising and evidence-based institutional reforms to improve student outcomes.
What the federal government has to do: Federal funding will cover three-quarters of the average cost of community college. Participating states will be expected to contribute the remaining funds necessary to eliminate the tuition for eligible students.
The president is expected to make a formal announcement Friday
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Should be a Great State of The Union
