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Conference Booklet For more than half a century, student financial aid programs have played a crucial role in increasing the number of Americans with access to a college education. Pell Grants, student loans, and G.I. Bill benefits have helped make America one of the most educated nations in the world. But despite increased spending on financial aid programs, completion rates remain stagnant. Moreover, college tuition growth has eaten away at the purchasing power of grant programs and has saddled students and families with nearly $1 trillion in debt. Instead of focusing on building new financial aid tools and approaches, contempo - rary education policy debates are prioritizing increasing grant amounts, expanding loan limits, or lowering interest rates. This research conference will push past tired discussions to explore opportunities for a more fundamental rethinking of the way aid is designed and delivered. At this conference, America’s foremost thinkers on financial aid reform will discuss 9 new pieces of research on how innovations in financial aid policy can create a more effective and sustainable system. Agenda This event will take place at AEI, 12th floor conference center. MONDAY, JUNE 24 9:00 a.m. Introduction Panel I 9:10 a.m. Back to the Future: Lesson from a Half-Century of Financial Aid Policy Moderator : Sara Goldrick-Rab Sandy Baum, George Washington University W. Lee Hansen, University of Wisconsin-Madison* Diane Auer Jones, Career Education Corporation Daniel Madzelan, US Department of Education (retired) David Mundel, Independent Research Consultant 10:30 a.m. Break Panel II 10:45 a.m. Beyond Simplification: New Approaches to Access Moderator : Andrew P. Kelly Rodney Andrews, University of Texas at Dallas Regina Deil-Amen, University of Arizona Justin Draeger, National Association of Student Financial Aid Administrators Ed Pacchetti, US Department of Education Cecilia Rios-Aguilar, Claremont Graduate University* 12:05 p.m. Lunch Panel III 12:35 p.m. Rethinking Grant Aid Moderator : Andrew P. Kelly Sara Goldrick-Rab, University of Wisconsin-Madison Reshma Patel, MDRC* Lashawn Richburg-Hayes, MDRC Lauren Schudde, University of Wisconsin-Madison* Bob Shireman, California Competes Jacob Stampen, University of Wisconsin-Madison* Lesley Turner, University of Maryland 2:00 p.m. Break Panel IV 2:15 p.m. Smarter Student Loan Policies: Innovations in Lending, Borrowing, and Repayment Moderator : Sara Goldrick-Rab Debbie Cochrane, The Institute for College Access and Success Stephen Crawford, George Washington University* Nicholas Hillman, University of Wisconsin-Madison Miguel Palacios, Vanderbilt University Robert Sheets, University of Illinois at Urbana-Champagne 3:35 p.m. Break Panel V 3:45 p.m. Looking Ahead: Financial Aid Reform Moderator : Andrew P. Kelly Terry Hartle, American Council on Education Arthur Hauptman, Independent Public Policy Consultant Amy Laitinen, New America Foundation Bridget Terry Long, Harvard University Richard Vedder, AEI and the Center for College Affordability and Productivity 5:00 p.m. Adjournment and Wine and Cheese Reception *Denotes co-author who is not sitting on the panel. 1 About the Editors SARA GOLDRICK-RAB is an associate professor of educational policy studies and sociology at the University of Wisconsin–Madison. She is also the senior scholar at the Wisconsin Center for the Advancement of Postsecondary Education and an affiliate of the Institute for Research on Poverty, the La Follette School of Public Affairs, and the Consortium for Chicago School Research. Goldrick-Rab received the William T. Grant Scholars Award in 2010 for her project “Rethinking College Choice in America.” In 2009 she was the lead author of a Brookings Institution blueprint on transforming community colleges, and in 2006–07, was a National Academy of Education and Spencer Foundation postdoctoral fellow. Her work appears in academic journals such as the Sociology of Education and the Future of Children as well as on her blogs (Education Optimists and the Chronicle of Higher Education’s Conversation). Currently, Goldrick-Rab is directing the “Wisconsin Scholars Longitudinal Study,” an experimental evaluation of the impact of need-based financial aid on college graduation, and she is beginning a new evaluation of Single Stop USA. ANDREW P. KELLY is a resident scholar in education policy studies at AEI. His research focuses on higher education policy, innovation, financial aid reform, and the politics of education policy. Previously, he was a research assistant at AEI, where his work focused on the preparation of school leaders, collective bargaining in public schools, and the politics of education. His research has appeared in the American Journal of Education , Teachers College Record , Educational Policy , Policy Studies Journal , and Education Next , as well as popular outlets such as Education Week , Inside Higher Education , Forbes , The Atlantic , National Affairs , The Weekly Standard , and Huffington Post. He is coeditor of “Getting to Graduation: The Completion Agenda in Higher Education” (Johns Hopkins University Press, 2012), “Carrots, Sticks, and the Bully Pulpit: Lessons from A Half-Century of Federal Efforts to Improve America’s Schools” (Harvard Educational Publishing Group, 2012), and “Reinventing Higher Education: The Promise of Innovation” (Harvard Educational Publishing Group, 2011). In 2011, Kelly was named one of 16 “Next Generation Leaders” in education policy by the Policy Notebook blog on Education Week. 2 Panel I Back to the Future: Lessons from a Half-Century of Financial Aid Policy 9:10 a.m. –10:30 a.m. | Moderated by Sara Goldrick-Rab Panelists Sandy Baum, George Washington University Diane Auer Jones, Career Education Corporation Daniel Madzelan, US Department of Education (retired) David Mundel, Independent Research Consultant Paper Abstracts The Politics of Student Aid by Daniel Madzelan In the first 40 years of Pell Grants, the US Congress appropriated a third of $1 trillion for the program (half of this amount since 2006 alone). To be sure, Pell Grants have always enjoyed broad bipartisan support, yet the program’s spectacular growth is a recent phenomenon. Except for student loans, other federal student aid programs have not fared nearly as well. However, there is general agreement that the fiscal health of the grant program, as it is currently config - ured, is unsustainable. Policymakers, appropriators, and other stakeholders will demand better student-level outcomes from all of the federal aid programs. This paper aims to explore which groups might be best positioned for advancing policies to achieve evolving program goals. Madzelan provides an anecdotal review of the history and development of the Pell Grant, other federal spending programs, the college tuition tax credits, and the circumstances that led to certain policy preferences being realized. How have these programs’ goals evolved? What did prior efforts to restructure them look like, and how did those efforts fare? More broadly, what created momentum for change in the past? Are the prospects for change affected by the constel - lation of interests (both within government and outside it in the interest-group community)? Building a Foundation of “Actionable Knowledge”: Research that can Improve the Performance of Federal Student Aid Policies by David Mundel Funding for federal student aid programs, which were first authorized in the 1960s and 1970s, has increased dramatically. In spite of these increases, the performance of these programs has been disappointing: longstanding inequalities in college attendance, completion rates, and patterns continue. These disappointments have resulted from several market and nonmarket behaviors, some of which federal student aid programs have addressed and many of which remain unaddressed. Despite increases in funding for and the quality of research on federal student aid policies, we know little about the impact of current programs and even less about the possible impact of changes in these programs or new approaches. Given the disappointing results of current student aid policies, the limited understanding of the effects of these and alternative policies, and the increasing likelihood of future funding constraints, an “actionable knowledge base” needs to be developed if future disappointments are to be avoided. This paper focuses on issues that must be addressed in developing such a knowledge base. 3 Panel II Beyond Simplification: New Approaches to Access 10:45 a.m. –12:05 p.m. | Moderated by Andrew P. Kelly Panelists Rodney Andrews, University of Texas at Dallas Regina Deil-Amen, University of Arizona Justin Draeger, National Association of Student Financial Aid Administrators Ed Pacchetti, US Department of Education Paper Abstracts The Promise of “Promise” Programs by Rodney Andrews In recent years, there has been a proliferation of “promise programs,” defined by Andrews as local place-based scholarship programs that offer near-universal access to funding for postsec - ondary education. Despite the burgeoning popularity of these programs, there is little comprehen - sive information on their efficacy as a means of encouraging postsecondary education. In this paper, Andrews first describes the structure of the promise programs and then attempts to answer the questions: How are the Promise Programs financed? Who gives the money, and how is it sus - tained? Using extant research as a guide, are the promise programs in and of themselves a scal - able solution for financial aid reform? From
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