The American Dream 2.0: Leveraging Federal Aid to Increase Student Success Dr. Kim Hunter Reed

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The American Dream 2.0Leveraging Federal Aid
to Increase Student SuccessDr. Kim Hunter Reed
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Defining the Problem Focused on the Solution

• Problem Completion Crisis
• Solution Leveraging Federal Financial Aid to
  Improve Student Success

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RADD Deliverables

• The American Dream 2.0
• College Is Worth It
• Doing Better for More Students Putting Outcomes
  at the Center of Financial Aid

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American Dream 2.0 Report and Coalition

• Consensus on the problem Aid should be more
  efficient and effective
• 3 overarching recommendations
• Make aid simpler, easier and more transparent to
  provide better consumer information to families.
• Spur innovation in Higher Ed that can lower costs
  and meet the needs of todays students.
• Ask institutions, states and students to share
  responsibility for producing more graduates
  without compromising access and affordability.

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Doing Better for More Students Technical Panel
White Paper

• Simplify Financial Aid
• Share Responsibility
• Innovation and Experimentation

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Share Responsibility Incentives for On-Time
Completion

• Limit the number of credits borrowers can
  accumulate
• Increase enrollment intensity to receive maximum
  aid
• Provide additional aid for increased course load
• Define metrics to be phased in for institutional
  eligibility

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Innovation and Experimentation

• Pell-Ready Grant
• Competency-Based Demonstration
• Performance Contract Demonstration

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Pell-Ready Grant Proposal

• Currently
• Students can use Pell for up to 30 non-credit
  bearing remedial courses
• 1/3 of Pell students reported taking a remedial
  class
• Purpose Test if it is possible to finance
  remediation in a more cost-effective way
• Competency-based remediation

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Pell-Ready Grant Proposal

• How?
• States chosen by the Department to participate
  through competitive grant process
• 75 funds would go to H.S. juniors
• 25 set aside for low-income adults for
  students at 250 of poverty and below.
• Will not affect ability to qualify for Pell

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Key To Student Success

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