Student Loans - Obama's Education Initiative
Despite the current economic doom and gloom and a general lack of liquidity with which to fund new programs, President Obama has made no secret of his desire to shake up the education system and exhort those within it to think bigger. In so doing, they will qualify for greater federal financial input.
Central to his raft of initiatives is the Race to the Top scheme, an education program initiative funded through the Recovery Act to the tune of $4.35 billion. The program is designed to stimulate a competition between states , and the president clearly hopes that it will invigorate and inspire bold steps on the way to education reform. The onus will put on states to apply for funding and to make the best case possible to explain why they deserve funding. The principal stated aim is to financially prop up innovative states, and inspire the rest to action with the promise of greater financial aid. Among the factors important for states to address in order to qualify for aid are turning under-performing schools around, raising or maintaining common academic standards and improving the quality of teaching. The aim is to inspire states to take bold action, and some, such as California, have done just that, changing existing laws to enable the state to compete for funding by allowing teacher;s pay to be linked to student attainment.
Some critics have pointed to the issue of money, claiming that the plan does not have sufficient funding in order to fulfill its broad and grand aims. They also point to the fact that some states might simply do what they need to do in order to qualify for the one-time cash injection, and then use the money however they wish, having nothing to show for the educational initiatives it was earmarked to inspire after two years. Further criticism centers on the fact that no specifics were announced with regard to how the government would monitor how the money was spent, despite promises of 'unparalleled transparency'. Fortunately there are still a number of options open to you as a student in the form of various other education grants to help you find the aid you need, as strong financial aid is key to success in your own education and can help provide you with the peace of mind you need to focus on your own development when you need to.
If you're stuck and need some help finding good information online try using Financial-Aid-Directory.com for finding the latest information on financial aid to help you when you need it most.
Questions and Answers
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