U.S. works to improve college graduation rate

The Obama administration is currently working to improve the national graduation rate, reflecting the value of higher education.
The Obama administration is currently working to improve the national graduation rate, reflecting the value of higher education.

According to the most recent data from the National Center for Education Statistics, four-year colleges graduate about 57.2 percent of their students, while the graduation rate at two-year institutions is about 30.5 percent.

Arne Duncan, the U.S. secretary of education, recently announced that the Obama administration is offering grants and a "tool kit" in order to assist states in improving their college graduation rates, The New York Times reports. The program is part of a larger goal of creating an additional eight million higher education graduates by 2020.

The new campaign will launch a $20 million Comprehensive Grant Program for states that work towards increasing their graduation rates. It will also feature a $123 million First in the World initiative that aims to keep tuition as low as possible and help students finish school faster, the media outlet reports.

According to the Bureau of Labor Statistics, it may be very important for individuals to complete higher education, as those who have bachelor's degrees have a lower chance of unemployment and larger salaries.

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