new $1 billion investment. The Race to the Top: College Affordability and Completion challenge aims to increase the number of college graduates and contain the cost of tuition by rewarding states that are willing to systematically change their higher education policies and practices.

• Kicking off a First in the World competition to model innovation and quality on college campuses: The President is proposing an investment of $55 million in a new First in the World competition, to support public and private colleges and non-profit organizations as they work to develop and test the next breakthrough strategy that will boost higher education attainment and student outcome, while leading to reduced costs.

• Providing better data for families to choose the right college for them: The President is calling for a College Scorecard for all degree-granting institutions, designed to provide essential information about college costs, graduation rates, and potential earnings, all in an easy-to-read format that will help students and families choose a college that is well suited to their needs, priced affordably, and consistent with their career and educational goals.

• Redoubling federal support to tackle college costs: The President has already made the biggest investments in student aid since the G.I. Bill through increases to the Pell grant, and by shoring up the direct loan and income-based repayment programs. In his State of the Union Address, the President also called on Congress to make the American Opportunity Tax Credit permanent and double the number of work-study jobs over the next 5 years to better assist college students who are working their way through school.

Building on Landmark Federal Investments to Make Higher Education More Affordable

The President has set the goal for the U.S. to be first in the world in college attainment by 2020. To achieve this bold goal for our nation’s future and to prepare students to compete in the 21st century global economy, the Obama Administration has championed landmark investments in student financial to make college more affordable for all American families:

• Increasing Pell Grants: The President has raised the maximum Pell Grant award to $5,635 for the 2013-14 award year – a $905 increase since 2008. The number of Pell Grant recipients has increased over that same time by 50 percent, providing college access to millions of additional students across the ...