College Loans From 2009 Recovery Act Promote Online Education!

College Loans From 2009 Recovery Act Promote Online Education!

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President Obama’s Recovery Act in 2009 is as much about education as it is about jobs. Our nation’s chief executive understands that to upgrade a person’s salary one should upgrade the person’s education. $225 billion of the Act is dedicated to contracts, grants and loans and $500 million of that is targeted to online degrees. The reason Obama has made this money, including college loans, available is as at least a partial cure to the high drop out rate on-campus universities endure.

Speaking on education and those who do and do not attend for economic and personal situational reasons, he stated: “All along that education pipeline, too many people”, Obama said, “are slipping through the cracks. It’s not only heartbreaking for those students; it’s a loss for our economy and our country”. If you need more information about apply for a pell grant online, look on the internet.

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One statistic President Obama wanted to seriously address is that only 29% of U.S. adults have a college degree, fewer than in many other industrialized nations. Only about 40% of Americans who start college graduate. The price of higher education, which rises by an average of 8% a year, contributes to the high dropout rate.

One of the President’s solutions was to dedicate $500 million to colleges for new programs. He wants these courses to be available to students everywhere they can get online access, desktop to the Amazon Kindle. He is also advocating the establishment of twenty to twenty-five new course each year.

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One of the key reasons for this program is the overall affordability of online education versus on campus. The Board of Education estimates that online education costs a student approximately 40% less than going on campus. The average cost of an on campus education these days is $150,000 for a four-year degree, while USA Today reports the cost is $65,000 for the same amount of time. There is an abundance of information about scholarships on the web.

These days one can get an online degree in nearly every subject, from vocational trade certificates to Masters. Many online academies offer classes as comprehensive as the top schools throughout the world. Many are actually created and offered by these same top schools. It’s no surprise the President is a fan of online education. Students get the same education online and attending this way allows more students to participate as they are able to work and attend classes at the same time.

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Not surprisingly, there are many money-saving benefits to attending a school from home. The student can continue their work, a feature that is particularly attractive. Many companies, including some of the major players in convenience foods, offer scholarships to employees. If those working for the chain are there for a certain number of hours, they can get aid, study and work conveniently located. Those with children will appreciate not having to spend money for sitter fees, not to mention transportation costs.

College loans are facilitating the dreams for so many. Wanting to attend school and then getting assistance, via loans or through a grants for online school, means the dreams of many benefit themselves and the country. Everyone wins.

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