College affordability—the real or perceived ability to pay for college—is a major barrier facing students who wish to pursue a postsecondary degree or certificate. There are college financing and aid programs available, but not all are well targeted and many students are not able take advantage of them because they are unaware of all the options or they find the process difficult to navigate. Lumina Foundation desires a model for a new student financial support system that will enable greater participation by lowering the barriers to completing postsecondary education.
This is an Ideation Challenge with a guaranteed award for at least one submitted solution.
Lumina Foundation is committed to increasing the proportion of Americans with high-quality college degrees, certificates, and credentials. The affordability challenge facing students today is multi-faceted and Lumina is interested in sourcing new models of student financial support that not only make college more affordable particularly for low-income students, but also make the costs more transparent, provide incentives to increase completion while keeping prices low, and align stakeholders at the federal, state, and institutional levels. The goal is to create a new model of paying for college that enables more students to enter and complete postsecondary education.
A Lumina Foundation video can be viewed here: https://www.youtube.com/watch?v=NWOHUoMsc4s.
This is an Ideation Challenge, which has the following unique features:
Submissions to this Challenge must be received by 11:59 PM (US Eastern Time) on November 20, 2014.
Late submissions will not be considered.
After the Challenge deadline, the Seeker will complete the review process and make a decision with regards to the Winning Solution(s). All Solvers that submit a proposal will be notified on the status of their submissions; however, no detailed evaluation of individual submissions will be provided.
ABOUT THE SEEKER
Lumina Foundation is an independent, private foundation committed to increasing the proportion of Americans with high-quality degrees, certificates and other credentials to 60 percent by 2025. Lumina’s outcomes-based approach focuses on helping to design and build an accessible, responsive and accountable higher education system while fostering a national sense of urgency for action to achieve Goal 2025. For more information on Lumina, visit: luminafoundation.org.
What is an InnoCentive Ideation™ Challenge?
An InnoCentive Ideation™ Challenge is a broad question formulated to obtain access to new ideas, similar to a global brainstorm for producing a breakthrough idea or market survey which may include ideas for a new product line, a new commercial application for a current product, or even a viral marketing idea to recruit new customers. Ideation™ Challenge submissions are typically about two written pages, and Seekers receive a non-exclusive, perpetual license to use all submissions.
In an Ideation™ Challenge, Solvers may:
Solvers should not reveal any confidential information in their submissions. Often the Ideation™ Challenge will be followed by one or more of the other three Challenge types to further develop the ideas and gain Intellectual Property protection when the concept has been well-defined.