in may we announct competition, the first in the world 75 million-dollar investment fund that hope helpso feed innovation in higher education that either increase access of low-income students that go over the cost and the price of education on the campuses by using technology or other means and that improve outcomes of higher completion rates or that measurably added to the value of a student's degree. we purposefully left it broad because we wanted t people's bet ideas. the grand in the application process closed on june 30 and as the computer system was regaining its breath we tallied them up and there were 595 applications under the first in the world program, which i think suggests that the higher education community is ready, willing and able to bring forward the great ideas. we also propose $7 billion for the college opportunity graduation one which would provide annual grants to institutions based on the number of on-time graduates and programmed recipients directly rewarding institutions for doing what we know that we all need to do such is increase the graduation rates of the lo