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Editor's Note T HE V IE W FROM HERE The Obama Administration recently released its 2014 budget, proposing key investments in education that would strengthen the middle class, grow the economy, and provide opportunities for success to all Americans. Without adding to the deficit, the president's FY 2014 budget invests $71B in discretionary funding for the Department of Education, an increase of 4.5 percent over the FY 2013 pre-sequester level. For higher education, the goals are to make college more affordable and improve quality in a time when both demand and cost continue to rise. At some point in the near future, I expect we will reach a breaking point … and another bubble will burst. Despite increases in fi nancial aid, without additional funding a point will come when students and families will no longer be able to absorb the rising costs — no matter the benefits of a college education — and heaven help us then! In the 2014 budget for higher education, the president's request proposes comprehensive reforms to increase affordability and quality in higher education, including $1B for a new Race to the Top: College Affordability and Completion competition that would drive change in state higher education policies and practices; $260M for a First in the World fund that would make competitive awards to encourage innovation in higher education; expanding and reforming campus-based aid programs; linking student loan interest rates to market rates — before they are scheduled to rise on July 1; and expanding the popular Pay As You Earn repayment option to ensure that loan repayments for all student borrowers do not exceed 10 percent of their discretionary income. In addition, the 2014 budget would fund Pell Grants for more than 9,000,000 students — an increase of more than 50 percent since 2008 — and support an increase in the maximum Pell Grant from $5,645 in the 2013-14 year to $5,785 in 2014-15. The key to funding for these programs is passing a budget. I am normally an eternal optimist, but when it comes to cooperation and compromise by government officials, I've become somewhat of a cynic. In my opinion, education is too important an issue to be held hostage. If it's true that by 2020, there will be a 22-percent increase in the number of jobs that require education beyond high school … we need to do something about funding education NOW! CPM Christine Reedy creedy@peterli.com EDUCATION INDUSTRY ANALYST Paul Abramson STAFF WRITERS Michael Fickes, Ellen Kollie EDITORIAL ADVISORY BOARD DIRECTOR, NATIONAL INSTITUTE FOR PUBLIC SAFETY RESEARCH AND TRAINING Shad U. Ahmed EXECUTIVE DIRECTOR, SCUP Jolene Knapp EXECUTIVE DIRECTOR, AASHE Paul Rowland PAST PRESIDENT, FLAPPA Michael G. 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Moore dmoore@peterli.com VP/EDITOR-IN-CHIEF Jerry Enderle jenderle@peterli.com EDITOR Shannon O'Connor soconnor@peterli.com ASSOCIATE EDITOR/EDITOR, TECHNOLOGY PLANNING & MANAGEMENT AC HIE V EME NT disclaimer: the opinions of authors and columnists are thier own and not necessarily those of college planning & management magazine or of the peter li education group. Executive Editor/Publisher dmoore@peterli.com 6 COLLEGE PLANNING & MANAGEMENT / MAY 2013 college planning & management® is a registered trademark of peter li, inc. WWW.PLANNING 4EDUCATION.COM