University presidents and administrators from across Southern California had a wide-ranging discussion about how to make higher education more affordable during a conference Friday at Loyola Marymount University.
Officials from the White House and the Department of Education organized the meeting, which is one of a series of events nationwide to discuss proposed changes to student aid and to solicit feedback from university officials on proposals to reform federal financial aid and student support programs.
Leading the discussion were U.S. Assistant Secretary of Postsecondary Education Eduardo Ochoa and Terry Hartle, senior vice president for government and public affairs of the American Council on Education.
Affordability is a key obstacle to reaching President Obama’s goal of dramatically increasing the number of college graduates by 2020. President Obama believes the path to productivity for the United States is to have the most educated population in the world, Ochoa said. Currently, the United States ranks 16th worldwide in the percentage of adults with post-secondary education.
“We need 10 million more graduate of college by 2020 … in order to be successful in the coming years,” he said. “Higher education is an economic imperative.”
Taking part in the discussions were presidents and administrators from LMU, UCLA, Cal State Northridge, San Diego State University, Otis College of Art and Design and a dozen other schools.
Administration officials provided fact sheets and a briefing on President Obama’s “comprehensive approach to tackling rising college costs,” which includes increased aid to students, as well as rewarding colleges that find a way to stem the rise in the cost of college.
The key components of the program as outlined at the conference are:
- Reforming student aid to promote affordability and shift federal campus-based aid programs toward those schools that keep tuition affordable and serve needy students well.
- Creating a Race to the Top for college affordability by providing $1 billion in competitive grants divided among states that drive systemic change in higher education policies and practices, while containing costs and making it easier for students to earn a college degree.
- A First in the World competition to model innovation and quality on college campuses by investing $55 million to support public and private colleges that develop and test innovative and effective practices that boost productivity and enhance teaching and learning.
- Better data to help families choose the right college for their children, including a “College Scorecard” for all degree-granting institutions that provides information about college costs, graduation rates, and potential earnings, in an easy-to-read format. This will help students choose a college that suits their needs, fits their budget, and is consistent with their career and educational goals.
- Federal support to tackle college costs — including the largest investments in student aid since the G.I. Bill — through increases to the Pell grant program, and by shoring up direct loan and income-based repayment programs. President Obama continues to call on Congress to prevent student loan rates from doubling to 6.8 percent on July 1.