Opportunity Initiative Clears Key Hurdle as Senate Approves Referral to Voters

Proposal will create permanent fund to boost student access to college and vocational training

State Treasurer Ted Wheeler applauded the Oregon Senate for advancing the Opportunity Initiative, a proposal to create a permanent, dedicated fund to increase student access to higher education and vocational training.

Senate Joint Resolution 1 now heads to the Oregon House for consideration. If approved, voters will decide whether to create a permanent Opportunity Fund in November 2014.

“The Opportunity Initiative is a critical step toward increasing students’ access to higher education and technical training, which will help make Oregon more competitive in the new global economy,” Treasurer Wheeler said.

The referral passed the Senate by a bipartisan 20-10 vote. The legislation does not dedicate any money for the proposed fund: That will be considered as part of a different bill.

The Opportunity Initiative is part of the Treasurer’s blueprint to help make Oregon families more financially secure. It was crafted with input from an impressive coalition that includes lawmakers, university and community college officials, student representatives and business executives.

Oregon’s future depends on maintaining a skilled workforce, and state goals call for bolstering the percentage of students with higher education diplomas.

At the same time, the state’s current level of student assistance is anemic: Oregon ranks as 45th among states for per-capita support of education assistance, according to the National Association of State Student Grant and Aid Programs. Because of funding limitations, just two of every ten eligible applicants receives an Oregon Opportunity Grant today. Those grants are worth about $2,000 a year.

More information about the initiative is available at www.BuildingOregonsFuture.org.