Earlier this month, in his State of the State address, Gov. Bill Haslam announced a new plan to aid in his Drive to 55.
Tennessee Promise is a program that will allow any Tennessee student K-12 to attend a two-year college or technical school absolutely free. Then, if the student wishes, they can transfer to an in-state four-year university to continue their education.
“Well, this is about expanding the network and changing the culture of expectations in the state of Tennessee,” said David Smith, Gov. Haslam’s Press Secretary.
In order to fund the Tennessee Promise program, existing resources will be used.
“The Tennessee Promise will be funded within existing resources by interest from the newly established Tennessee Promise endowment and by changing the HOPE award for students attending community colleges from $2,000 per year to $3,000 per year, while reducing the award amount at the four-year institutions for freshmen and sophomores from $4,000 per year to $3,000 per year,” according to the Drive to 55 website.
Tennessee Promise is expected to cost nearly $34 million annually.
“The saving on the first two years allows us to help pay for the Tennessee Promise, which is about expanding opportunities to people who might not be able to afford going to a post-secondary institution. It will remove the cost barrier that is there,” Smith said.
“If we are going to make up the gap between 32 percent now and 55 percent in 2025, our state needs an additional 494,000 degrees, particularly in programs provided at our TCAT and two-year schools.”
The total amount awarded from the HOPE Scholrship will at the end be the same amount; it will just be divided differently among the four years. Smith says this should help keep students in school and finishing their degrees.
“The money would be the same across four years. The Tennessee Promise proposal change it to receiving $3,000 freshman and sophomore years and $3,000 junior and senior years. We feel like this incentivizes people to stay in college across four years,” Smith said.
The plans for Tennessee Promise are still in the early working stages. For more information on Tennessee Promise or the Drive to 55 campaign, visit www.driveto55.org.
