Higher Education

Earning a post-secondary degree or credential is no longer just a pathway to opportunity for a talented few; rather, it is a prerequisite for the growing jobs of the new economy. Over this decade, employment in jobs requiring education beyond a high school diploma will grow more rapidly than employment in jobs that do not; of the 30 fastest growing occupations, more than half require postsecondary education. With the average earnings of college graduates at a level that is twice as high as that of workers with only a high school diploma, higher education is now the clearest pathway into the middle class.
In higher education, the U.S.. has been outpaced internationally. In 1990, the U.S. ranked first in the world in four-year degree attainment among 25-34 year olds; today, the U.S. ranks 12th. We also suffer from a college attainment gap, as high school graduates from the wealthiest families in our nation are almost certain to continue on to higher education, while just over half of our high school graduates in the poorest quarter of families attend college. And while more than half of college students graduate within six years, the completion rate for low-income students is around 25 percent.
Acknowledging these factors early in his Administration, President Obama challenged every American to commit to at least one year of higher education or post-secondary training. The President has also set a new goal for the country: that by 2020, America would once again have the highest proportion of college graduates in the world.
To achieve this bold goal for college completion, ensure that America’s students and workers receive the education and training needed for the jobs of today and tomorrow, and provide greater security for the middle class, President Obama and his Administration are working to make college more accessible, affordable, and attainable for all American families.

Helping Middle Class Families Afford College

America is home to the best colleges and universities in the world — and increasing college attainment has never been more important to our economic competitiveness — yet tuition and fees have skyrocketed over the past decade, making it more difficult for American families to invest in a higher education for their future. Today’s college students borrow and rack up more debt than ever before. In 2010, graduates who took out loans left college owing an average of more than $26,000. Student loan debt has now surpassed credit card debt for the first time ever.
Our nation’s commitment to placing a good education within reach of all who are willing to work for it helped build a strong American middle class over the past several generations. In keeping this promise alive, President Obama has expanded federal support to help more students afford college, while calling for a shared responsibility in tackling rising college costs. President Obama’s efforts of reform in higher education funding have produced the largest investment in student aid since the G.I. Bill, while resulting in a more efficient, reliable, and effective system for students to help them afford college and manage debt:

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Doubling Investments in Pell Grants

Helping Students Manage Student Loan Debt

Expanding Education Tax Credits

Keeping Student Loan Interest Rates Low

Keeping Costs Down

The President is calling on Congress to advance new reforms to give more hard working students a fair shot at pursuing higher education, because education is not a luxury: it is an economic imperative that every hard working and responsible student should be able to afford. President Obama has emphasized that the federal government, states, colleges, and universities all have a role to play in making higher education more affordable, by reining in college costs, providing value for American families, and preparing students with a solid education to succeed in their careers.
In his State of the Union address, President Obama emphasized this shared responsibility of states and higher education institutions — working with the federal government — to promote access, affordability and attainment in higher education by reining in college costs, providing value for American families, and preparing students with a high quality education to succeed in their careers. It is not enough to increase federal student aid alone — state policymakers and individual colleges and universities bear a shared responsibility to take action against rising college tuition and costs.
Providing greater pathways for students to enter into and succeed in higher education is in the interest of all Americans, and is critical to developing a highly educated, highly skilled economy and workforce that will attract business and lead to lower unemployment. The Administration has taken several steps and advanced several proposals to put higher education greater within reach for more Americans:

Strengthening Community Colleges

The President has placed a strong emphasis on making America’s community colleges stronger, ensuring that they are gateways to economic prosperity and educational opportunities for millions of Americans each year. Each year, over 1,100 community colleges provide students and workers with critical skills to succeed in a 21st century economy. To help reach the President’s college attainment goal, the Obama Administration has called for an additional 5 million graduates from community colleges by 2020. Working in partnership with states and communities, community colleges are well suited to promote the dual goal of academic and on-the-job preparedness for the next generation of American workers.
Many community colleges are already working with businesses to develop programs and classes — ranging from degree-granting curricula to certified courses for retraining — that will enhance skills for workers. The President has demonstrated his commitment to deepening and expanding that work:

Improving Transparency and Accountability

President Obama has consistently strived to lead the most open, efficient and accountable government in history. Over the last two years, new initiatives have increased public participation in government, opened up new information to Americans on a variety of topics, and improved citizens' everyday lives. In the vein of transparency and accountability, the President tasked his Administration with giving students and families new tools and relevant information that will help them make sound financial decisions in pursuing their higher education goals.