Without financial aid, I wouldn’t be here at the University of Wisconsin. The loans I’m granted by the federal government provide me with necessary financial resources so that I can take advantage of highly knowledgeable faculty, informative classes and valuable programs which UW offers as a part of a world class education.
While some people characterize recipients of financial aid as lazy or dependent, I recommend that they check their facts before making stereotypical assumptions. Hard work and community involvement have always been an important part of my life. Currently I work two jobs, take 18 credits as a full time student and hold leadership roles in College Democrats and Associated Students of Madison. I also play trumpet in a Dixieland ensemble and volunteer at the Community Immigration Law Center.
I look at higher education as an important investment which allows me to realize my full potential as a worker and a thinker and achieve my dreams. Thus, I believe that every student, no matter their financial situation, should be able to access this important resource.
I am thankful that President Barack Obama shares this core value, saying that “higher education shouldn’t be a luxury, or a roll of the dice; it’s an economic imperative that every family in America should be able to afford.” To make this vision a reality, President Obama has taken significant steps to make higher education more affordable. Most recently he increased the maximum award for Pell Grants, which provide vital financial resources to low income students, by more than $900 since 2008 while expanding the number of recipients by 50 percent.
Obama has also taken initiative to reduce the burden of student debt, which continues to grow as tuition rates skyrocket. Although both of my parents work, their income alone is not enough to cover the more than $20,000 worth of tuition, rent, textbook and living expenses of one academic year at UW. Therefore, even with working and with some financial assistance from my parents, I must take out loans and am on track to incur more than $25,000 in student loan debt before graduating.
Addressing this growing problem, President Obama has established an income-based repayment plan which caps debt repayment at 10 percent of discretionary income. This plan will help students like myself find financial stability as we transition from college to the workforce.
To further aid students, Obama has proposed other valuable ideas for higher education reform, including an adapted rating system that will help students find schools that provide a strong education at a fair price. He has also unveiled a new plan to provide incentives to schools that experiment with new ways to save students money. This includes schools that make the shift to competency-based graduation requirements, provide more online classes for appropriate subjects and build partner programs with high schools so students can get ahead on their degree and reduce the overall cost of college.
Every day I am thankful for the investment my country has made by allowing me to realize my full potential through higher education. I am even more thankful for the support and leadership of our president, who has continually demonstrated his commitment to students, the economy and the future of this country.
Jacob Riederer (jfriederer
