President Barack Obama is proposing a multibillion-dollar investment in the nation's community colleges, a $12 billion effort to help the two-year institutions reach, teach, and train more people for "the jobs of the future."

Obama outlined his four-part program in a July 14 speech at Macomb Community College in Warren, Mich.

Under the initiative, schools could qualify for "challenge grants" so they'd have money to give new programs a try, or expand training and counseling.

Dropout rates would be addressed by designing programs to help students who want to earn an associate's degree or transfer to a four-year institution.

Money would be spent to...

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