Education Futures Corp - Wider economic impact
Current education trends in the United States represent multiple achievement gaps across ethnicities, income levels, and geography. In an economic analysis, consulting firm McKinsey & Company reports that closing the educational achievement gap between the United States and nations such as Finland and Korea would have increased US GDP by 9-to-16% in 2008.
Narrowing the gap between white students and black and Hispanic students would have added another 2-4% GDP, while closing the gap between poor and other students would have yielded a 3-to-5% increase in GDP, and that of under-performing states and the rest of the nation another 3-to-5% GDP. In sum, McKinsey's report suggests, "These educational gaps impose on the United States the economic equivalent of a permanent national recession."
Overall the households and demographics featuring the highest educational attainment in the United States are also among those with the highest household income and wealth. Thus, while the population of the US is becoming increasingly educated on all levels, a direct link between income and educational attainment remains.Education Futures Corp CA
Funding for college
At the college and university level student loan funding is split in half; half is managed by the Department of Education directly, called the Federal Direct Student Loan Program (FDSLP). The other half is managed by commercial entities such as banks, credit unions, and financial services firms such as Sallie Mae, under the Federal Family Education Loan Program (FFELP). Some schools accept only FFELP loans; others accept only FDSLP. Still others accept both, and a few schools will not accept either, in which case students must seek out private alternatives for student loans.
Grant funding is provided by the federal Pell Grant program.
Education Futures Corp Huntingdon Valley PA
Educating children with disabilities
The federal law, Individuals with Disabilities Education Act (IDEA) requires states to ensure that all government-run schools provide services to meet the individual needs of students with special needs, as defined by the law. All students with special needs are entitled to a free and appropriate public education (FAPE).
Schools meet with the parents or guardians to develop an Individualized Education Program that determines best placement for the child. Students must be placed in the least restrictive environment (LRE) that is appropriate for the student's needs. Public schools that fail to provide an appropriate placement for students with special needs can be taken to due process wherein parents may formally submit their grievances and demand appropriate services for the child.
Current education trends in the United States represent multiple achievement gaps across ethnicities, income levels, and geography. In an economic analysis, consulting firm McKinsey & Company reports that closing the educational achievement gap between the United States and nations such as Finland and Korea would have increased US GDP by 9-to-16% in 2008.
Narrowing the gap between white students and black and Hispanic students would have added another 2-4% GDP, while closing the gap between poor and other students would have yielded a 3-to-5% increase in GDP, and that of under-performing states and the rest of the nation another 3-to-5% GDP. In sum, McKinsey's report suggests, "These educational gaps impose on the United States the economic equivalent of a permanent national recession."
Overall the households and demographics featuring the highest educational attainment in the United States are also among those with the highest household income and wealth. Thus, while the population of the US is becoming increasingly educated on all levels, a direct link between income and educational attainment remains.Education Futures Corp CA
Funding for college
At the college and university level student loan funding is split in half; half is managed by the Department of Education directly, called the Federal Direct Student Loan Program (FDSLP). The other half is managed by commercial entities such as banks, credit unions, and financial services firms such as Sallie Mae, under the Federal Family Education Loan Program (FFELP). Some schools accept only FFELP loans; others accept only FDSLP. Still others accept both, and a few schools will not accept either, in which case students must seek out private alternatives for student loans.
Grant funding is provided by the federal Pell Grant program.
Education Futures Corp Huntingdon Valley PA
Educating children with disabilities
The federal law, Individuals with Disabilities Education Act (IDEA) requires states to ensure that all government-run schools provide services to meet the individual needs of students with special needs, as defined by the law. All students with special needs are entitled to a free and appropriate public education (FAPE).
Schools meet with the parents or guardians to develop an Individualized Education Program that determines best placement for the child. Students must be placed in the least restrictive environment (LRE) that is appropriate for the student's needs. Public schools that fail to provide an appropriate placement for students with special needs can be taken to due process wherein parents may formally submit their grievances and demand appropriate services for the child.