The Trump Administration is busy in organizing on how to implement its policy agenda. One agendum that should be included must be the cost of college. Debt is the foremost concern that parents and students encounter during college application, as reported by Princeton Review. In a recent survey of voters, 82% conforme that it is necessary to go beyond high school, but 85% believes that it is getting more difficult to afford a college education.
During the presidential campaign, Donald Trump proposed capping of repayments of student debts at 12.5% of the annual income of the borrowers. Moreover, loan balances are proposed to be forgiven after 15 years of dutiful repayment. Although there is a huge impact on capping student loan repayments to students and their families, it is still not enough. Sixty-five percent of jobs in the United States by 2020 will require a post-secondary education and training. Thus, Americans really need a higher education.
In a commentary in Forbes, changing the workforce of America needs innovation to higher education financing. This requires checking the needs of this present generation's students and the current economy. Trump should maintain the ideas from the Obama Administration, while implementing innovations that fight student debt and allowing greater accessibility to higher education.
Four-year program not the sole way to success
It is recognized worldwide that gaining a bachelor's degree a good pathway to enter the job market. However, it must be recognized that this is not the only method where students can obtain the skills and knowledge that they are required to succeed in this economy.
Short-course programs still expensive
Many students opt to attend shorter programs that can earn them competency-based certificates and trade certifications. General Assembly and Galvanize are some examples of digital-focused and coding academies that teach technical skills in programming and web design. These short-term courses might not cost as much as traditional higher education institutions; however, they are still costly. The barrier is that students do not have access to Pell Grants and low-interest loans as they would in traditional colleges.
Experimental program of Department of Education
Students who enroll in non-traditional programs that include trade and certificate programs will be recipients of an experimental program developed by the Department of Education. Eight organizations will be involved in the Educational Quality through Innovative Partnerships (EQUIP) pilot experiment as announced by the Department of Education in August 2016.
