The Case for Year-Round Pell Grants

As congress takes up reauthorization of the Higher Education Act this year, it will have to address several policy concerns, including the rising cost of college and the need to increase degree attainment rates in the U.S. Notwithstanding those concerns, college access will continue to be a major issue. How can our nation expand college opportunities to those who have long been underrepresented, including lower-income students, minorities, and those who are the first in their families to attend college, ramping up the number of degree earners?

... Students aren't the only ones to benefit when they graduate quickly. Three-year college completion also offers huge potential benefits to society. Economist Reuven Brenner from McGill University has calculated that if just one generation of 4 million students joined the labor force one year earlier at a starting salary of $40,000, it would add $160 billion in national income per year, and generate $2.4 trillion of wealth for the nation's economy over 40 years.

Read full article here: ArcaMax, January 30, 2015