Initiating what President Obama calls “most significant down payment yet on reaching the goal of having the highest college graduation rate of any nation in the world”, the President has put forward the American Graduation Initiative, giving community colleges across the country an estimated $12 billion over the next decade.

Following through with the remarks made by Dr. Jill Biden’s speech on the virtues of community colleges in America, the President has made providing a college education a top priority.

“President Obama sees higher education as critical to the administration’s plans to revitalize the American economy, and he has moved quickly to support students and their families. In just his first few months in office, the President has increased financial aid available to students and unemployed workers, increased tuition tax credits, and streamlined the financial aid process.

The President wants the United States to once again have the highest proportion of college graduates in the world by the year 2020 — a global competition that if we all enter, we will all win.” said the Second Lady of the United States.

“Not since the passage of the original GI Bill and the work of President Truman’s Commission on Higher Education — which helped to double the number of community colleges and increase by seven-fold enrollment in those colleges — have we taken such a historic step on behalf of community colleges in America.  And let me be clear:  We pay for this plan — this isn’t adding to the deficit; we’re paying for this plan — by ending the wasteful subsidies we currently provide to banks and private lenders for student loans.  That will save tens of billions of dollars over the next 10 years.  Instead of lining the pockets of special interests, it’s time this money went towards the interests of higher education in America.  That’s what my administration is committed to doing.” says President Obama.

It’s not uncommon that government, and citizens look to higher education during times of financial crises. When there are fewer jobs to be had, the more talented and educated of the workforce often find jobs quicker than than their less-trained competition, often inspiring others to return to college to receive a degree. The one thing many of these students have in common is the need to work while attending college. This is what makes university alternatives like community college, or earning an online degree, a popular option.

Not everyone is happy with the President’s plan for higher education. Some saying that the community college programs in the United States often run a deficit that is not being addressed by the American Graduation Initiative.

“The major funding crunch at cc’s is in the operating budgets, which covers salaries and ongoing expenses. Amazingly, none of the $12 billion headline number is aimed at shoring up the very operating budgets that are being gutted by the states. None. Not one dollar. This, while announcing the aim of nearly doubling the number of graduates produced. How we’re supposed to double the number of students who make it all the way through without any additional operating funding isn’t addressed. Basic math suggests three possibilities. One, it won’t happen. Two, we’ll find efficiencies of such staggering magnitude that we’ll be able to double outputs with no new inputs. (I call this the Purple Unicorn theory.) Three, we’ll get it from the students. My money is on three.” says Dean Dad, a blogger at InsideHigherEd.com.