Obama Accomplishments pt7: Financial Aid Reform

Obama Administration Accomplishments List

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• Accomplishment: "Enacted largest reform of student aid in 40 years." (ref)


• What is it?
  It changes how student aid is loaned.  Instead of wasting time and money on middlemen, aid will originate from the government, which will reduce wasted money and make the process faster for students and, eventually, student repayment costs also will be reduced, especially for teachers, nurses, members of the armed forces, and others who choose to go into public service (ref).


• Why does it matter?
  As seniors and those who studied recent history are aware, the G.I. Bill essentially created the middle class -- before then, wealth was much more divided with the two extremes of the wealthy and the poor.  Many of us have noticed that the middle class has begun to dissolve.  Making higher education accessible to everyone levels the playing field, and reduces the extreme polarization of the poor and the 1%. (ref) 
  
  The increasingly extreme polarization between the 1% and everyone else is an increasingly visible issue. I doubt there is anyone who hasn't heard of the Occupy phenomenon. At the turn of the millennium, who could imagine massive protests in America over financial disparity?
  
  

  

  I decided I'd lose far less money this way than charging a class to my credit card.

  
  The American Dream: we've all heard the expression. We grew up with the idea that, if you worked hard enough and made sacrifices, you could achieve, but we're seeing less and less of this. Those who are just graduating high school now may be afraid to attend college because they see so many around them who are highly educated, highly motivated, and yet still unemployed or severely underemployed: they know that even 15% of income when you're making below poverty levels is too much to pay.
  
  In addition to making higher education less risky, the changes will also help more students be prepared for higher education, as the increased forgiveness to teachers (ref) will increase the chances of quality teachers being able to afford teaching at a public level.