Feds to test financial aid for unorthodox college programs

New times, new thinking, new models  – responding to the needs of society. Great pilot!

In an experiment backed by the federal government, Northeastern University and General Electric are offering a new manufacturing degree program to be taught primarily at the company’s work sites. Students will take online courses through the university, undergo training at a GE plant and earn a bachelor’s degree within three years.

The biggest twist: For the first time, students who enroll in that kind of partnership will be eligible for federal financial aid.

Read details here.

“It is time to stop subsidizing schools (colleges & universities) that are not producing good results.” (Obama)

NYT blog: The president said rising prices at colleges were partly driven by the distribution of $150 billion in federal assistance to students. He said colleges that allowed tuition to soar should be penalized by getting less federal aid for their students, while colleges that held down costs should get more of the money. He has also announced plans to create a federal rating system that would allow parents and students to easily compare colleges and would urge Congress to pass legislation to link the student aid to the rating system.

I am delighted to share that at NEU we are developing a learning analytics platform that will continuously collect data on key performance indicators to help us make effective decisions.

What Worries University Applicants the Most?

Although 100% believe a university education is valuable, according to this the CHE article and a Princeton Review survey, affordability is the major concern of applicants. 89% of respondents said that financial aid was very necessary.

Similarly, on a recent University of California freshman survey showed that the financial assistant is important at the time of selecting colleges, while the share of students identifying aid as very important has risen significantly over time, from 19 percent in 1973 to 33 percent in 1993 to 49 percent in 2013.