In the United States, the price of a postsecondary education continues to rise at a rate that outpaces inflation and affordability remains a significant barrier to enrollment in degree and certificate programs. Today’s students and families often are left on their own to navigate the multiple avenues to paying for postsecondary education. Lumina Foundation envisions a government-sponsored solution to simplify access to federal benefits and resources.
This is an Ideation Challenge with a guaranteed award for at least one submitted solution.
The federal government has established a number of options and programs to help students pay for postsecondary educational expenses. Often, the process begins by filling out the Free Application for Federal Student Aid (FAFSA), a form that calculates the Expected Family Contribution, enables institutions to determine a student’s eligibility for resources and an offer of financial aid. However, there are other sources of federal aid that cannot be accessed by completing a FAFSA. Lumina Foundation believes that in a student-centered system, benefits access would be simplified across the various federal agencies that provide student aid, and wishes to explore the possibility of a government-sponsored solution to ensure that students can easily apply for, view, and monitor their use of all federal postsecondary education benefits for which they qualify.
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 April 27, 2015.
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.