A Billion Dollar Federal Investment in Workforce Development
Government hopes to make two-year colleges free to anyone and everyone
A higher education for free? Debt forgiveness? State-of-the-art facilities and technology to help students thrive? That is exactly what a new United States education plan proposes to achieve. A study done in 2020 at Georgetown University states that about 6-in-10 jobs require a higher education degree or certificate. However, with the current Industry 4.0 gap people who would be able to fill it are not able to because they just do not have the funds to obtain the needed education. The plans hope is to invest in community colleges and give training to students who can become successful individuals and to make sure college is seen as an attainable means for people who might otherwise never thought possible.
A Billion Dollar Investment
It's well known that many people choose not to go into a higher education program because they do not have the means to do so and even the ones who are able to go are clouded with debt. According to the Federal Reserve Bank of New York, roughly 44 million Americans hold a total of $1.5 trillion in student loans, with many of them unable to pay those debts.
A high-quality training investment partnership worth $50 billion is what the government hopes to accomplish between community colleges, business, unions, state, local and tribal governments, universities, and high schools. The hope is that by collaborating they can identify in-demand skills in the community and develop current programs to be used in the always changing workforce. They will also invest $8 billion to help community colleges improve and empower their classrooms with the most up-to-date equipment and technology.
By making community colleges free the plan wants to ensure that anyone who wants to obtain a two-year degree or industry certificate can. They are also proposing that anyone whose family makes $125,000 or less be able to attend a public college or university tuition-free. Once graduated the plan states that graduates making under $25,000 will not owe anything on their undergraduate federal student loans and will not accrue an interest. Those who make more then $25,000 will only have to pay 5% of discretionary income (income minus taxes and essential spending like housing and food). These cutbacks will mean millions of dollars saved for the American people. As long as an individual has made their payments, after twenty years all loan debt will be forgiven!
No Money, No Problem
According to a 2022 study done by the American Association of Community Colleges, more than half of students who attend a community college receive financial aid of some sort but imagine that price tag completely eradicated. With the given number of available jobs, a free education, and the ability to make a comfortable amount starting out, there is no excuse not to go get an associate degree or certificate at a community college. The program will also make improvements to ensure there is a higher student completion rate.
The government’s plan is to allow any hard-working individual to go to a community college for up to two years and not have to pay a dime of tuition. Students will participate in training programs that have a good track record and help them begin a successful career. Whether you are a recent high school graduate, an adult who never had the means before or just wanting to learn a new skill you are eligible for the program. Once the two-year program is completed students can transfer to a four-year college. They also plan to give states financial incentives to help create a partnership between community colleges and community-based organizations so students can find support outside of the school.
Their hope is to create quicker pathways of completion by providing a sequence of classes for a specific area of study, using a twelve-month calendar, closer alignment of high school, community college and four-year college courses, provide college credits for degree related on-the-job training and offering degree-related paid internships for course credit.
How Can We Help
The proposed plan will help education, businesses and America grow stronger and better for all future generations. By allowing all people no matter race, gender or economic status obtain a degree or certificate from a higher education institution we can all help our communities grow. Let Tech-Labs and Amatrol help you become greater. For more information contact Tech-Labs at sales@tech-labs.com or call 800-445-1088.
