Yesterday Vice President Biden announced a new grant competition focused on assisting institutions of higher education increase completion rates. 

The grant, and subsequent request to Governors to host a state college completion summit, are efforts by the Obama Administration to increase college graduation rates across the nation to meet the President’s goal to have the highest proportion of college graduates in the world by 2020.

To kick-off this effort the Administration released a comprehensive college completion tool kit which includes suggested policies to help states boost college graduation rates.  The tool kit includes seven no-cost or low-cost strategies that states can use, fifteen related action steps, and several existing federal resource streams from which to draw.

Among the strategies in the tool kit is the alignment of high school exit and college placement standards and re-engaging adults with some college experience but no degree.

The Administration is also making a number of financial resources available to states to implement plans to increase college completion rates.

• U.S. Department of Education: Accepting applications for the 2011 Comprehensive Grant program – $20 million to colleges to implement plans that can increase success and improve productivity in postsecondary schools.
• Administration’s 2012 Budget: The First in the World initiative, which in its initial year would provide $123 million in competitive funds, to support programs that embrace innovative practices to accelerate learning, boost completion rates and hold down tuition.
• Administration’s 2012 Budget: College Completion Incentive Grants, which would give a total of $50 million in awards to reward states and institutions for undertaking reforms that produce more college graduates.

Congress will have to approve spending for these programs before they can be implemented.