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In 2008, voters in the age group of 18 to 24 sided with Obama over Sen. John McCain by a margin of 66 to 32 percent, but surveys show the margin has shrunk this election. A Gallup poll taken in July and August found that the same age group now preferred Obama to Romney by a margin of 56 to 36 percent.
Both parties have put out proposals that deal with the cost of college, but while both aim to reduce tuition, their approaches are very different.
Obama’s “Race to the Top” and Pell Grant program
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Tennessee and Delaware won the competition for the first round of Race to the Top funding. |
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During his first year in office, President Obamapassed his largest education initiative to date called “Race to the Top.”
The program created a competition among states for a large pot of funds that, according to the White House, would be spent to “spur systemic reform and embrace innovative approaches to teaching and learning in America’s school.”
Obama says that if re-elected, he will extend Race to the Top and expand “Head Start” programs, which promote early education for
low-income families.
The president has also worked to help students afford higher education by expanding Pell grants for students of low-income families from $5,550 per year to $5,635. Pell grants do not have to be repaid and are granted based on financial need. He also ordered the government to take over student loan programs instead of private lenders, which he called a “middle man” that ended up costing the government more money.
The president has also pledged to make permanent the American Opportunity Tax Credit, which allots up to $2,500 per year per student for college cost. The tax credit is part of the 2009 economic stimulus program and is set to expire in January 2013. According to the Tax Policy Center, extending the cuts will cost an estimated $93.6 billion over the next ten years.
Romney’s school choice plan and private lending for college
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Under Romney's plan, $26 billion in annual federal education money that flows to districts would instead follow each individual child. Parents would decide which school--including online ones--to send the funds to. If states allow it, children would also be permitted to attend private schools with the public funds. |
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Romney’s plan poses as a stark contrast to Obama’s. At the K-12 level, Romney focuses on school choice: giving families an alternative to failing public schools. Romney would give parents vouchers worth some of the money that would have gone to the local public school and let them use it towards tuition for a private school. He supports charter schools and public report card for schools and districts to hold them responsible for results.
When it comes to higher education, Romney focuses on keeping federal spending to a minimum to lessen pressure on the taxpayers who may have college costs. Romney says Obama’s initiatives have not worked. He writes in his education plan, “A Chance for Every Child”, that making the federal government a direct source of student loans drives tuition higher. Romney would bring private lenders back into the business of issuing student loans.
If elected, Romney plans to eliminate duplicate federal college funding programs, direct the Pell Grant to students who need them the most and create a long term plan for the program. His running mate, Wisconsin Rep. Paul Ryan proposed a 2013 budget that would cap the Pell Grant at $5,550 for the next decade.
Both candidates agree on the need for better tests to evaluate student and teacher performance, as well as attracting and supporting the best teachers.
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