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De Omnibus Dubitandum - Lux Veritas

Wednesday, September 11, 2013

Obama's college affordability scheme gets an 'F'

By Vicki Alger | SEPTEMBER 7, 2013

President Obama unveiled his latest college affordability plan in time for the start of the new school year. Yet his proposal for a government-issued “College Scorecard” shows he needs more homework about why college is so expensive.
Under the president’s plan, starting in 2015, colleges would be rated according to their “value,” measured by tuition prices, the proportion of low-income students enrolled, graduation rates, debt loads carried by graduates, the advanced degrees they attain, and graduates’ earnings. By 2018, federal aid would be dispersed to institutions based on their ratings.
The president has suggested that giving people more information is a surefire way to drive college costs down. But bad incentives, not bad information, are to blame.
Colleges have raised tuition prices and let costs run amok for decades — all the while directing more of their own institutional aid to students from wealthier families. Still the federal aid just kept coming.....To Read More...

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