Hats off to both of them. It's always nice to see that it's still possible for politicians to work together in a bipartisan way:
Senators Chuck Grassley, R-Iowa, and Al Franken, D-Minnesota, continued a long-time bipartisan collaboration Wednesday with the introduction of a pair of bills, the goals of which are to give potential students and their families better information about the costs of college.
A new report by the Georgetown University Center on Education and the Workforce predicts that by 2025, just a decade from now, two-thirds of jobs in Iowa will require a post-secondary education or other training beyond high school by 2025.
The Georgetown University report further breaks down the numbers to suggest that 14 percent of jobs will require some college, 12 percent an associate’s (two-year) degree, 5 percent a vocational certification, 3 percent an apprenticeship and 5 percent an occupational license or other professional credential. That same report suggests 21 percent of jobs will require a bachelor’s degree and an additional 8 percent will require a graduate degree.
While the need for post-secondary education has been growing, so has the cost. Information provided by Grassley’s and Franken’s offices indicates that Minnesota now ranks fifth in the nation for undergraduate student debt, with student graduating from college with an average debt of $30,894. Iowa ranks ninth, with an average student debt of $29,370.
The bills introduced by Grassley and Franken would not lower the potential debt facing students and their families but would make students and their families more aware of the true cost of that post-secondary education.
“College sticker prices don’t mean much,” Grassley said in announcing the bills. “That means students are flying blind when making one of the most expensive commitments in their lives. It’s almost impossible for students to compare college costs until they have applied and received their financial aid award letter. Even then, the financial aid award letter they receive from one school might be a lot different than one from another school.
“As a result, students have a very hard time determining which school is the most economical choice. Our legislation would help take the mystery out of college costs. Also, the more information available, the more there will be price competition to help keep tuition costs down.”
The “Net Price Calculator Improvement Act” would improve the effectiveness of and access to net price calculators, the tools that provide students with early, individualized estimates of higher education costs and financial aid figures before they decide where to apply. Schools would be required to put their calculators on web pages where students and families are likely to look for cost and admissions information. The act would authorize the Department of Education to develop a “universal calculator” that lets students answer a standard set of financial and academic question to get cost estimates from several schools so they could better compare costs.
The “Understanding the True Cost of College Act” would create a universal financial aid award letter so that students could compare financial aid package between schools. It would clarify what financial aid families would receive from a school and create standard terms for the aid offered so student could accurately compare offers from different schools.
As the cost – and importance – of post-secondary education continue to escalate, students and families need the tools to make meaningful comparisons.
http://www.nonpareilonline.com/opin...cle_bfc47003-7010-5b42-81e0-0abc17e0d4d2.html
Senators Chuck Grassley, R-Iowa, and Al Franken, D-Minnesota, continued a long-time bipartisan collaboration Wednesday with the introduction of a pair of bills, the goals of which are to give potential students and their families better information about the costs of college.
A new report by the Georgetown University Center on Education and the Workforce predicts that by 2025, just a decade from now, two-thirds of jobs in Iowa will require a post-secondary education or other training beyond high school by 2025.
The Georgetown University report further breaks down the numbers to suggest that 14 percent of jobs will require some college, 12 percent an associate’s (two-year) degree, 5 percent a vocational certification, 3 percent an apprenticeship and 5 percent an occupational license or other professional credential. That same report suggests 21 percent of jobs will require a bachelor’s degree and an additional 8 percent will require a graduate degree.
While the need for post-secondary education has been growing, so has the cost. Information provided by Grassley’s and Franken’s offices indicates that Minnesota now ranks fifth in the nation for undergraduate student debt, with student graduating from college with an average debt of $30,894. Iowa ranks ninth, with an average student debt of $29,370.
The bills introduced by Grassley and Franken would not lower the potential debt facing students and their families but would make students and their families more aware of the true cost of that post-secondary education.
“College sticker prices don’t mean much,” Grassley said in announcing the bills. “That means students are flying blind when making one of the most expensive commitments in their lives. It’s almost impossible for students to compare college costs until they have applied and received their financial aid award letter. Even then, the financial aid award letter they receive from one school might be a lot different than one from another school.
“As a result, students have a very hard time determining which school is the most economical choice. Our legislation would help take the mystery out of college costs. Also, the more information available, the more there will be price competition to help keep tuition costs down.”
The “Net Price Calculator Improvement Act” would improve the effectiveness of and access to net price calculators, the tools that provide students with early, individualized estimates of higher education costs and financial aid figures before they decide where to apply. Schools would be required to put their calculators on web pages where students and families are likely to look for cost and admissions information. The act would authorize the Department of Education to develop a “universal calculator” that lets students answer a standard set of financial and academic question to get cost estimates from several schools so they could better compare costs.
The “Understanding the True Cost of College Act” would create a universal financial aid award letter so that students could compare financial aid package between schools. It would clarify what financial aid families would receive from a school and create standard terms for the aid offered so student could accurately compare offers from different schools.
As the cost – and importance – of post-secondary education continue to escalate, students and families need the tools to make meaningful comparisons.
http://www.nonpareilonline.com/opin...cle_bfc47003-7010-5b42-81e0-0abc17e0d4d2.html
