Education Technology Grants Aim to Increase Student Retention and College Graduation

National statistics demonstrate that only fifty-percent of U.S. students who enroll in postsecondary education actually complete a degree program. In a major effort to increase student retention and college graduation, private organizations and the U.S. government are doling out grants to advance education through technology.

In December 2009, the Bill and Melinda Gates Foundation announced $12.9 million ed-tech grants for community colleges and remedial courses. According to the Gates Foundation web site, the recipient of the grants will:

• Work with community college educators to create cutting-edge virtual environments
that will support teachers and improve students’ academic performance.

• Create collaborative technology and social media tools to form virtual communities for
high quality educators to create a national certification program for teachers of
remedial education.

• Develop dynamic virtual learning labs, which can be freely accessed and used as open
resources.

EduCause, a non-profit organization, recently earmarked substantial funds for technology projects aimed at preparing students for college. One of EduCause’s goals is to combine online classes with traditional classroom curricula, where students can take basic, non-credit, supplemental courses for college readiness. The grants will also focus on postsecondary education by creating technology to track students’ academic performance in real time, as well as create open, virtual educational tools.

Under the American Recovery and Reinvestment Act of 2009 (ARRA) Education Technology Funds, ARRA EETT Competitive Grant Program supports efforts to improve students’ learning and academic progress through innovative uses of technology. Among other things, the government grant program seeks to foster online learning and instruction connected to students’ and educators’ development.

Today’s collaborative technology and social media tools are integral to keeping students and teachers engaged in the learning process. Why is it important to take fresh initiatives to integrate Web 2.0 technology in education to increase student retention and college retention?

According to the U.S. Department of Labor statistics, by 2016, fifty- percent of all U.S. jobs will require college-level skills.

Moreover, a recent research conducted by PayScale, an U.S. company that gathers information on salaries, shows college graduates from top schools earn nearly $1 million more than a typical high school graduate (source: Bloomberg Businessweek, June 28, 2010).

Based on specific variables, a comparative breakdown of the PayScale data shows a 30-year net return on college investment as follows:

• Ivy-League colleges = $1.4M

• Private College = $559.2K

• Non-Ivies = $384.4K

• Public colleges = $322.5K

The PayScale numbers also benchmark the average 30-year net return on investment of college education at 9%, only second to S&P 500 investment at 11%, and ahead of 30-year Treasuries and Gold at 4% and 2.6%, respectively.

In broad terms, college degrees will yield a high rate of return both in terms of skill-set development and earnings.

Initiatives to develop collaborative, online learning tools and virtual environments, funded by ed-tech grants, are steps toward creating modular, individually customized curriculum based on students’ needs, interests and objectives. This, in turn, will help students prepare for and negotiate college, and leave with degrees in hand.

-Lilly Golden, Examville Blog Contributor