The Biden-Harris administration plans to send $44.5 million to 22 rural institutions to help boost access to higher education. (iStock)
At the end of December, the Biden-Harris administration announced $44.5 million in grants to help high school students in rural areas access higher education.
The Rural Postsecondary and Economic Development (RPED) program is set to provide grants to 22 rural educational institutions. It focuses on providing a variety of career paths in high-wage and in-demand industries.
Rural communities are less likely to have younger generations enrolled in college. In rural parts of the country, just 29% of individuals aged 18-24 attend college or participate in higher education, according to the announcement. That’s compared to 48% of individuals the same age in urban areas and 42% in suburban areas.
“The grants announced today by the Biden-Harris administration reflect our commitment to empowering rural communities to build on their strengths, attract new investments, and prepare students for the high-skill, high-wage jobs of tomorrow,” U.S. Secretary of Education Miguel Cardona said.
Private student loans can help you cover the gaps between your federal funding. To see what you’d pay on a private student loan, visit Credible today to view a rates table that allows you to compare fixed and variable rates from multiple lenders without affecting your credit score.
BIDEN FORGIVES ANOTHER $4.8 BILLION IN FEDERAL STUDENT LOAN DEBT, BUT ALTERNATIVE RELIEF PLAN HITS A SNAG
College enrollment increased in 2023 for the first time since the pandemic
College enrollment was up in 2023, according to a National Student Clearinghouse Research Center update. The pandemic saw a decline in enrollment, but undergraduate enrollment bumped up 2.1% this year.
Students are showing a preference for shorter-term degrees. Undergraduate certificate programs have grown by 9.9% while associate degrees grew 3.6%, the update said. Four-year degrees are up as well, but just by 0.9%.
The short-term path has led to growth in community college enrollment. Community colleges have seen a growth of 4.4% in enrollment. That’s up by 4.3% since the fall of 2021.
Demographically, universities are seeing a higher growth rate among communities of color. Black, Latinx and Asian students accounted for the most enrollment growth this past year, according to the National Student Clearinghouse Research release.
To help pay for your education, private student loans can offer low rates. You can visit Credible to learn more about private student loan options and get personalized rates from multiple lenders without dinging your credit score.
THESE ARE THE 5 STATES WITH THE HIGHEST AND LOWEST STUDENT LOAN DEBT BALANCES
Other initiatives for higher education in rural areas
Other initiatives have been put into place in recent years to encourage rural communities to pursue higher education. Namely, the USDA partnered with the Community College Alliance for Agriculture Advancements to help rural students get the skills they need to work within their communities.
The partnerships provide training and resources to help them seek advanced careers in agriculture and rural economic development. Through internships and a large network, the USDA plans to help rural students get jobs and the skills necessary to work in their chosen fields.
“USDA works with rural communities to make sure people everywhere have the resources they need to access quality education and good-paying jobs,” Acting Under Secretary Glendenning said. “That’s why we are finding new ways to work with our partners to ensure students have the tools they need to succeed in their coursework today so that they can thrive in their careers tomorrow.”
The partnership will also help students interested in rural development on a national level. It’ll offer the ability to shadow staff within the Biden-Harris administration, such as staff members working with the Rural Partners Network.
Paying for your higher education requires a careful balance of funding. Private student loans can help you cover your costs. Don’t worry about having to navigate student loan options on your own. Credible can help compare student loan companies.
HOMEOWNERS INSURANCE RATES ON THE RISE, MAINLY DUE TO INCREASE IN NATURAL DISASTERS
Have a finance-related question, but don’t know who to ask? Email The Credible Money Expert at moneyexpert@credible.com and your question might be answered by Credible in our Money Expert column.
