Simplifying How We Save and Pay for Lifelong LearningA Path to Equity and Opportunity
Summary
We need our government to take action to simplify and streamline the structures and tools that help individuals fund lifelong learning. That’s why Third Sector is proposing a SIMPLE framework to help create a more streamlined approach to saving and paying for postsecondary education and job training that can provide clarity and ease for learners, workers, employers, and all those who care about ensuring these opportunities are accessible to everyone.
Most of us can agree that families, communities, businesses, and the economy do better when everyone has the opportunities and resources to reach their fullest potential. But the system we have right now to support people to save and pay for ongoing education and job training throughout their working lives disproportionately benefits those with means.
The current haphazard patchwork of programs, pilots, and funding options has created a maze that’s nearly impossible for the average person to navigate. This complexity isn’t just inconvenient – it’s a systemic barrier that reinforces existing inequalities, often leaving working-class families and communities of color, who need these opportunities the most, unable to access crucial educational resources.
We need our government to take action to simplify and streamline the structures and tools that help individuals fund lifelong learning. That’s why Third Sector is proposing a SIMPLE framework to help create a more streamlined approach to saving and paying for postsecondary education and job training that can provide clarity and ease for learners, workers, employers, and all those who care about ensuring these opportunities are accessible to everyone.
- Straightforward: Opening an account should be easy and available to anyone.
- Informed Choice: Individuals should have the agency to pursue training and education according to their career goals.
- Matching: Anyone should be able to match or contribute to the account, including families, employers, government, and philanthropic partners.
- Portable: Individuals should have sole ownership of their accounts and be able to access funds without restriction.
- Living Expenses: Living expenses and wraparound supports associated with obtaining a degree/credential can be covered for people for whom it would otherwise prevent participation.
- Equitable: Options should be available to stack incentives to improve access for priority populations.
This isn’t just about individual opportunity – it’s about building stronger communities and a more equitable economy by focusing on the outcome of unlocking opportunity for every worker and building the supports to help people get there. By stacking incentives tailored to distinct populations, local needs, and specific industries, we can ensure that groups with distinct barriers that have been affected by past and current policies have the support they need to access educational opportunities and build better futures for themselves and their families.
Transforming the postsecondary education funding system will require bold leadership and sustained effort from policymakers at all levels of our government. It will require states to investigate and deeply understand their own systems for funding postsecondary education and identify the next steps toward building a system that works for everyone. Our shared prosperity depends on it.
For more information on the SIMPLE Framework and how you can build a better system, please read our full policy brief, “Envisioning a Simpler Future for Funding Lifelong Learning in a Modern World.”
For questions on how to move this forward in your state, please contact Adrienne Russman at arussman@thirdsectorcap.org.
