To respond to President Barack Obama’s challenge to increase access to higher education, ASU will more than triple the number of recipients in its “most important financial aid program,” according to a statement released to members of the University Management Team late Tuesday.

The University will increase the maximum family income level for students to qualify for the program to $60,000 from $25,000.
This will open the program to more than 1,600 students, up from the current 500 recipients, according to the statement.

The program will also be named the President Barack Obama Scholars Program to honor the president when he speaks at commencement on May 13.

“It is our hope that by naming this scholarship program for President Obama that we will not only honor him but also set an example for other colleges and universities so that collectively we can reach the president’s college graduation goal before 2020,” Crow said in the statement.

Obama’s goal is to make the United States have the highest proportion of college graduates in the world by 2020, according to the statement.
Of the 30 most industrialized nations, a 2007 report from the Organization for Economic Co-Operation and Development places the U.S. at 21st with respect to college completion, according to the statement.

By expanding the Obama scholars program, ASU hopes more students can experience the critical aspects of the undergraduate experience like living on campus or participating in mentoring programs.

The financial-aid program will cover tuition, fees, books and room and board, and require recipients to participate in a work-study job on campus, according to the statement.

The program will be funded through resources that do not require repayment, such as gifts, endowment proceeds and grants.

The University plans to formally announce the details of the program Wednesday, Crow said in an e-mail to members of the management team.

“We look forward to commencement next week and the opportunity to honor the president by naming this scholarship program,” he said.

Reach the reporter at adam.sneed@asu.edu