President Barack Obama says education is the single best investment “we can make.”
In his announcement to help unemployed Americans, the president outlined a plan under which the Department of Education will send colleges legal guidance encouraging them to increase financial aid packages for the unemployed so they can enroll in education and training programs, all the while keeping the unemployment benefits.
This is certainly an idea that has merit. Many of those who are jobless need to invest in new skills or training. They would love to go back to school, but if they do, they might have to give up their jobless benefits because their unemployment benefits require they actively seek a new job.
It would seem to us unemployed people who can prove they are attending college or career technology classes in order to find a new job could apply for an extension of benefits or a waiver of some kind in order to get the education and training they need.
Under Obama’s initiative, colleges also would consider a person’s current financial situation to make it possible for them to receive Pell grants, which are available for low-income students. The unemployed person would not lose any unemployment benefits, and the maximum Pell grant would be increased from $500 to $5,350.
Of all the massive spending our current administration seems bent on, this kind of initiative actually makes sense and could have economic benefit for years to come. Obama is right in that investing in education and training is key to economic development. As times and technologies change so quickly, having a workforce that can adapt and change quickly is key to economic recovery.
This opportunity presents a way for the unemployment system to not just be a safety net, but a real “stepping stone to a new future,” as the president said.
