FACT SHEET: New Federal Guidance and Resources to Support Completion and Success in Higher Education

Describes the impact of degree completion in higher education and investments the Obama administration has made to ensure college opportunity, affordability, and success. These include doubling investments in Pell Grants; creating the American Opportunity Tax Credit worth $10,000 over four years of college; making student loans more affordable by cutting interest rates and allowing borrowers to cap student loan payments at 10 percent of income through the Pay As You Earn and other income-driven repayment plans; making access to financial aid and college information simpler and faster; and promoting innovation and competition to bring down costs and improve college quality. The results show: more students are graduating college than ever, and new student loan defaults, delinquencies, and forbearances are on the decline.

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