- Senate package takes aims at college costs
- NSF Engines semifinalists announced
Senate package takes aim at college costs
U.S. Senator Bill Cassidy (R-Louisiana), the ranking member of the Senate Health, Education, Labor and Pensions Committee, and several Republican colleagues on Wednesday released a package of five bills focused on curbing college costs for students.
According to a fact sheet, the Lowering Education Costs and Debt Act aims to:
- Pressure colleges and universities to keep their prices down and hence college costs and college debt lower for students.
- Provide students and families with better information to choose the right school and program of study to achieve the best return on investment for them.
- Simplify the student loan borrowing process to prevent students from unintentionally taking out more loans than they can afford or need.
- Ensure borrowers can navigate student loan repayment options without unnecessary confusion.
- Guides students against taking on debt to attend programs that do not translate to higher-paying job opportunities.
Cassidy said the current student aid framework under the Higher Education Act contributes more to the problem of escalating college costs for students than it does in providing a solution.
“Some colleges and universities have used the availability of student loans to increase tuitions, and this has left many students drowning in debt with no pathway for success,” he said at a press conference on Wednesday.
He also criticized President Joe Biden’s plan to forgive federal student loans, arguing that it would pass the costs of the loans to taxpayers.
“Our legislation puts downward pressure on tuition and empowers students to make the educational decisions that put them on track to academically and financially succeed,” Cassidy said in a release.
The Understanding the True Cost of College Act, which is part of the package, would create a standard letter for easy comparison. Sen. Charles Grassley (R-Iowa), who previously introduced the bill, cited a Government Accountability Office report that indicated 91% of colleges understate the true cost of attending their institution in student aid letters they give to students. One-third of the letters don’t distinguish between loans and grants, he added.
Sen. Tommy Tuberville (R-Alabama), a former head football coach at Auburn University who introduced another bill in the package, noted that a four-year degree is not always needed for family-sustaining jobs, citing less-expensive options such as community colleges and workforce development programs.
NSF Engines semifinalists announced
The National Science Foundation (NSF) has announced 34 semifinalist lead organizations for the inaugural Regional Innovation Engines competition that includes several community colleges and systems as project leads and partners in the projects.
The grant encourages innovation by creating robust partnership “engines” that strengthen the economy within a geographic region, address societal challenges, advance national competitiveness and create local, high-wage jobs across the country, according to NSF.
“Each of these NSF Engines semifinalists represents an emerging hub of innovation and lends their talents and resources to form the fabric of NSF’s vision to create opportunities everywhere and enable innovation anywhere,” said NSF Director Sethuraman Panchanathan. “These teams will spring ideas, talent, pathways and resources to create vibrant innovation ecosystems all across our nation.”
NSF initially received 188 concept outlines for NSF Engines, which was authorized by the CHIPS and Science Act. Selected finalists, which NSF will announce this fall, will each initially receive about $15 million for the first two years. The lead regional organizations can receive up to $160 million over 10 years.
Semifinalists not selected to receive an NSF Engine award may be considered for an NSF Engine Development Award of up to $1 million over two years.
