President Obama’s Recovery Act in 2009 is as much about education as it is about jobs. Our nation’s chief executive understands that to upgrade a person’s salary one should upgrade the person’s education. $225 billion of the Act is dedicated to contracts, grants and loans and $500 million of that is targeted to online degrees. The reason Obama has made this money, including college loans, available is as at least a partial cure to the high drop out rate on-campus universities endure.

One of the more inspiring things the President has said is his acknowledgement that: “All along that education pipeline, too many people”, he said in a speech last year, “are slipping through the cracks. It’s not only heartbreaking for those students; it’s a loss for our economy and our country”.

The stats truly are alarming. Only 29% of Americans have a college degree, where most other industrialized nations near 40%. Another statistic is that only approximately 40% of Americans who start a college program see it through to graduation. Compounding this, the price of getting a degree rises an average of 8% annually and this rising cost is a large reason for the high dropout rate of those who have started but cannot afford to continue. Keeping up to date with the newest developments on financial aid is important and will provide more opportunities.

One of the President’s solutions was to dedicate $500 million to colleges for new programs. He wants these courses to be available to students everywhere they can get online access, desktop to the Amazon Kindle. He is also advocating the establishment of twenty to twenty-five new course each year.

One of the key reasons for this program is the overall affordability of online education versus on campus. The Board of Education estimates that online education costs a student approximately 40% less than going on campus. The average cost of an on campus education these days is $150,000 for a four-year degree, while USA Today reports the cost is $65,000 for the same amount of time online.

These days one can get an online degree in nearly every subject, from vocational trade certificates to Masters. Many online academies offer classes as comprehensive as the top schools throughout the world. Many are actually created and offered by these same top schools. It’s no surprise the President is a fan of online education. Students get the same education online and attending this way allows more students to participate as they are able to work and attend classes at the same time.

Going online has other cost-saving benefits, too. They can include cutting commute time, possible baby sitter fees for working parents, and the wear and tear constant commuting does on vehicles, among others. Another incredible value is a student can take the course at a time that’s more convenient to his other needs, not when the course is offered on campus. This can also be of value to working parents, who need to be at home as much as possible for their children. In addition to the new opportunities mentioned here, there are many programs you can find throughout the nation by looking up online college grants on the internet.

Government grants and loans are facilitating the dreams for so many. Wanting to attend school and then getting assistance, via loans or through grants for online school, means the dreams of many benefit themselves and the country. Everyone wins.

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