Lowe In The News

SEN. FINNEY: COLLEGE REFORM WILL HELP ECONOMY

Sen. Lowe Finney, D-Jackson, cosponsored a higher education reform bill passed Thursday that aims to help more Tennesseans earn degrees and obtain better jobs.

"Education is the state's most powerful economic tool," Sen. Finney said. "By removing barriers to education, we build bridges to a better economic future."

Tennessee lags behind much of the nation in degree attainment. Out of every 100 ninth-graders in Tennessee, only 19 earn a college degree.

If the state hit the national average of residents with college degrees, Tennesseans would earn an additional $6 billion in annual wages and salaries, according to a study by Complete College America, a program sponsored in part by the Bill & Melinda Gates Foundation. The state would potentially earn up to $400 million in additional annual revenue.

West Tennessee especially could gain from the bill, which requires public colleges and universities to create a general education core to allow students to transfer easily between schools. Transferring from community colleges will also be easier: a student who earns an associate degree at a Tennessee community college will be able to transfer to a public university as a junior.

By removing transfer hurdles, students could graduate sooner and obtain more advanced degrees, giving them a chance at better jobs and higher salaries. Unemployment has hit the western portion of the state hard, with some counties registering as high as 26 percent unemployment during the recession.

West Tennesseans will also prepare for potential incoming business from the approved West Tennessee Megasite, which Sen. Finney helped pass in 2009.

"Governor Bredesen and corporate leaders understand that a well-educated workforce attracts high-paying jobs," Sen. Finney said.

The bill also emphasizes results at state colleges and universities by linking state funding to graduation rates. Currently state funding is based heavily on enrollment, not graduation.

The bill awaits Governor Phil Bredesen's signature.