Vice President Joe Biden touted new incentives to boost college graduation rates by eight million students by 2020 to meet the Obama administration’s goal to have the highest proportion of college graduates in the world, according to a March 22 U.S. Department of Education press release.

As chairman of the Middle Class Task Force, Biden called on states to partake in $20 million Comprehensive Grant Program, which would require states fulfill plans to increase their graduation rates.

“Right now we’ve got an education system that works like a funnel when we need it to work like a pipeline,” Biden said at the first annual Building a Grad Nation Summit.

“We have to make the same commitment to getting folks across the graduation stage that we did to getting them into the registrar’s office. The dreams and skills of our college graduates will pave the way to a bright economic future for our nation.”

U.S. Secretary of Education Arne Duncan said that the United States has fallen to ninth from first in college graduation rates among other nations in the world.

“While our educational advancement stalled, other countries have passed us by,” Duncan said. “We need to educate our way to a better economy, and governors must help lead the way.”

The Obama Administration has released information and suggested policies to help lead governors to boost college graduation rates.

“The best jobs and fastest growing firms, whether in biosciences, technology, manufacturing, trade or entertainment, will gravitate to countries, communities and states with a highly qualified workforce,” Duncan said. “In order for America to lead the world, every governor will have to lead the way at home.”

Biden’s strategy includes aligning high school exit and college placement standards and linking state funding to college success in boosting completion rates, the press release stated.

The administration has also proposed $123 million in competitive funds to support innovative academic programs that encourage graduation, while keeping down tuition. States would also be able to apply for $50 million in awards for states and institutions implementing reforms that increase college graduates.

The administration has increased Pell Grant funding by $40 billion.