President Barack Obama called on Congress Monday to create an $8 billion fund to train community college students for high-growth industries, giving a financial incentive to schools whose graduates are getting jobs.
The fund was part of Obama’s proposed budget for 2013. The overall package aims to achieve $4 trillion in deficit reduction over the next decade while boosting spending in some areas, including education.
Obama warned Congress that blocking investments in education and other proposals in his budget would be standing in the way of “America’s comeback.”
A key component of the community college plan would institute “pay for performance” in job training, meaning there would be financial incentives to ensure that trainees find permanent jobs — particularly for programs that place individuals facing the greatest hurdles getting work. It also would promote training of entrepreneurs, provide grants for state and local government to recruit companies and support paid internships for low-income community college students.
Obama said community colleges needs resources to become community career centers where students can learn skills that local businesses need immediately.
Over the next three years, an additional $1.5 billion will go to extending programs that help train and find employment for workers who have been hurt by international trade agreements, according to the statement.
