President Obama: New College Scorecard

To Be Part Of The New Education Paradigm

President Obama, in his weekly address, noted that it will be seven years since the financial meltdown on Wall Street took place and with that came lots of struggles and challenges for the middle class.

He said however that things have bounced back since he has taken over office.

He argued that today businesses have created more than 13 million new jobs over the last five and a half years, unemployment rate is the lowest it’s been in more than seven years, another 16 million Americans have gained health insurance, high school graduate rate is the highest it’s ever been, and more people are graduating from college than ever before.

“We are coming back – and stronger,” said President Obama.

President Obama however, stated that in an economy that’s becoming increasingly knowledge and innovation based higher education is the surest pathway to the middle class.

“By the end of this decade, two in three job openings will require some higher education.  That’s one reason why a degree from a two-year college will earn you $10,000 more each year than someone who only finished high school.  One study showed that a degree from a four-year university earns you $1 million more over the course of a lifetime,” the President said.

Photo Credit: President Obama.
Photo Credit: President Obama.

He noted that the country with the best-educated workforce in the world is going to win the 21st century economy and he wants that country to be America.

He said, however, that as college costs and student debt continues to rise keep, the choices that Americans make when searching for and selecting a college have become significantly more important today than ever.

“That’s why everyone should be able to find clear, reliable, open data on college affordability and value – like whether they’re likely to graduate, find good jobs, and pay off their loans.  Right now, however, many existing college rankings reward schools for spending more money and rejecting more students – at a time when America needs our colleges to focus on affordability and supporting all students who enroll.  That doesn’t make sense, and it has to change,” posited the President.

He declared that his Administration will be launching a new College Scorecard that is designed with the input from those who will use it the most – students, families, and counselors.

He said that Americans will now have access to reliable data on every institution of higher education.

The President said, “We’re working with partners in the academic, non-profit, and private sectors that will help families use this new data to navigate the complicated college process and make informed decisions.”

He concluded that the goal of the scorecard is to allow everyone access to college information that will assist them in making prudent decisions.

Davy Desmond, Readers Bureau, Fellow

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