AP: Edwards' plan pays freshman tuition
By: Mike Baker
May 12, 2007
Snow Hill, N.C. | Democratic presidential candidate John Edwards proposed an $8 billion college scholarship program Friday that would pay first-year bills for nearly every college student in the nation.
Funneling money by eliminating bank subsidies and tapping windfall profit taxes, Edwards said high school students across the country could benefit from an idea he has been testing at a high school in this impoverished rural community since 2005.
Edwards returned Friday to Greene Central High School to announce that 74 percent of its graduating seniors will attend college this fall using hundreds of thousands of dollars in scholarships. When he began offering the privately funded "College For Everyone" program, just 54 percent of the 2005 graduates had enrolled in college.
"Everyone across the country is interested in what's happening here in Greene County," Edwards told students during a graduation rally.
"There's nowhere in this country that families, parents and young people aren't worried about paying for college or getting out of college with crushing debt."
The national program would be similar to the program in Snow Hill, a town about 60 miles southeast of Raleigh where roughly 70 percent of students receive free or reduced lunch.
The program covers bills for tuition, fees and books during the first year of college for students who complete a college prep or college technology course in high school, refrain from using drugs or alcohol, and don't get suspended or commit a crime.
Students must also commit to work or volunteer for 10 hours each week while in college.
Not only has the pilot program helped improve the rate of college-bound seniors at Green Central, but it has also helped graduation rates, said Principal Randy Bledsoe.
"It's not just the money," Bledsoe said. "It's providing hope and a vision about how to get to college."
Extending the program nationwide would cost about $8 billion, Edwards said. Eliminating bank subsidies for student loans would free up about $5 billion, while another $3 billion could come from various sources, including windfall profit taxes for oil companies or a restructuring of capital gains taxes.
Edwards, the 2004 Democratic candidate for vice president, said he will release funding details soon.
It's the latest policy proposal from Edwards, who has announced several ambitious - but expensive - agendas since announcing his second bid for the presidency in December. Others include a universal health care program that could cost up to $120 billion and a $20 billion proposal to end poverty in 20 years.
On Friday, Edwards blasted the Bush administration for leaving poor communities without a recourse for success.
"Their policies favor people with high levels of capital and high levels of education," Edwards said.
"They've taken away some of the tools that are necessary to bridge the economic gap that exists in America. For example, they've taken billions of dollars out of financial aid. That's insane."
Edwards said "College for Everyone" will be available to all students, even those from wealthy families.
Edwards' education agenda would also allow students to borrow directly from the Department of Education and give every qualifying low-income high school a new college counselor.