An influx of college-age students could be arriving to TheUniversity of Memphis in the future, according to statistics fromthe National Center for Education Statistics, and it's easy to seewhy.
The statistics show that enrollment at U.S. colleges will grow19 percent by 2013 and the Tennessee HOPE scholarship, along withstudent-friendlier loans, could be cause for the possible futuregrowth in Tennessee institutions.
This influx will boost the quality of The U of M's student body,said John Haddock, interim vice provost of academic affairs.
The U of M is ramping up its honors program, said Haddock. "Ithink the quality of education is going to go up."
The Georgia HOPE scholarship system, which the Tennessee systemis fashioned after, has given almost $2 billion to more than693,000 students since it's conception in 1993, according to theGeorgia Student Finance Commission.
Both of those numbers are on the rise, as almost 60 percent ofGeorgia high school graduates were eligible for the award in 1998,up from 47 percent in 1993.
If the Georgia program is any precursor to the Tennesseeprogram, Tennessee institutions, along with its HOPE scholarshipstudents, could be on par with the nation's enrollment growthpotential.
"THEC (Tennessee Higher Education Commission) is predictingthere could be a 7 percent increase of incoming freshmen," Haddocksaid.
That much of an increase would most likely be due to thestudents taking advantage of the HOPE scholarship.
College hopefuls may also get a boost from President George W.Bush's 2005 fiscal year budget proposal, which would provideTennessee with $244 million for Pell Grants to assist low-incomefamilies in paying the cost of higher education, according to theU.S Department of Education Budget Service.
The proposal would also provide $1 billion in funding for newFederal Student Loans in Tennessee.
On a national scale, Bush's plan calls for funds to diminish the$3.7 billion Pell Grant program deficit, partially relieving theprogram of financial strain and aims to put $5 billion in reservefor the federal student-loan program which could help financiallystruggling students.
The $5 billion put in reserve could be used to either increasethe federal student-loan limits or reduce the fees that borrowerswould pay to get their loan.
