WASHINGTON | December 6, 2018
Christmas came early for those of you who’ve been waiting for more data on college completion rates.
The Department of Education just released a preliminary report that tells us what we already know: we have a national college completion problem. We’ve worked hard to encourage access and enrollment at postsecondary institutions – and more Americans than ever are attending school – but once students arrive, many leave before attaining their degree or take far longer to graduate than they should.
As you work through the numbers, here are just a few of the solutions the Education and Workforce Committee put forward this Congress to improve college completion and encourage institutions to give their students the very best chance at success:
- The PROSPER Act offers a $300 bonus to Pell-eligible students who take 15 credits per semester in an award year to accelerate completion and reduce debt.
- PROSPER requires institutions to have some skin in the game by shifting the burden of unearned aid off of students and onto institutions when a student withdraws before program completion.
- The PROSPER Act picks up the pace on aid eligibility timeframes to ensure that students are able to complete their education on time and enter the workforce quickly.
- PROSPER sets aside up to $150 million in Federal Work-Study dollars for institutions with strong Pell Grant recipient graduation rates or strong graduation rate improvement.
- The PROSPER Act puts reasonable limits on annual and aggregate borrowing for graduate students to encourage timely completion.
- PROSPER reserves 10 percent of TRIO funds for institution grants that support initiatives that improve completion.
To learn more about the PROSPER Act, click here.
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