Obama's American Graduation Initiative

At Macomb Community College in Warren, Michigan, President Obama unveiled the American Graduation Initiative, a 10-year, $12 billion plan to invest in community colleges.

The President stated, "By 2020, this nation will once again have the highest proportion of college graduates in the world. We used to have that. We're going to have it again. And we've begun to take historic steps to achieve this goal. Already we've increased Pell grants by $500. We've created a $2,500 tax credit for four years of college tuition. We've simplified student aid applications and ensured that aid is not based on the income of a job that you just lost. A new GI Bill of Rights for the 21st century is beginning to help soldiers coming home from Iraq and Afghanistan to begin a new life -- in a new economy. And the recovery plan has helped close state budget shortfalls -- which put enormous pressure on public universities and community colleges -- at the same time making historic investments in school libraries and classrooms and facilities all across America. So we've already taken some steps that are building the foundation for a 21st century education system here in America, one that will allow us to compete with China and India and everybody else all around the world."

To read his entire speech, click here.