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

Defining the Problem Focused on the Solution Problem: Completion Crisis Solution: Leveraging Federal Financial Aid to Improve Student Success

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

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 today’s students. Ask institutions, states and students to share responsibility for producing more graduates without compromising access and affordability.

Doing Better for More Students: Technical Panel White Paper Simplify Financial Aid Share Responsibility Innovation and Experimentation

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

Innovation and Experimentation Pell-Ready Grant Competency-Based Demonstration Performance Contract Demonstration

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

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

Key To Student Success You can have a multiple bullets here

HEADER CONTENT TO GO HERE QUESTIONS Website: Address: