A Degree of Risk

By Beth Akers Deseret News September 18, 2023

Higher education policy has gone from a niche issue studied by wonks and practitioners to a point of mainstream political concern. I used to wait with bated breath for a national political figure to mention the issue I care so much about, celebrating even a banal reference to maintaining a competitive workforce. I longed for the political engagement that could facilitate changes to our higher education system that are necessary and overdue: making college less risky for students, holding colleges and universities to a higher standard and reining in the out-of-control cost to taxpayers..........

The problem that needs solving is twofold. 

First, going to and paying for college is risky. On average college is a great investment, but sometimes it can leave students worse off financially than when they started...............

Second, we must ensure that colleges are on the hook for delivering economic opportunity. When graduates can’t find jobs that pay well enough to afford the price tag of enrollment, we should stop allowing students to borrow and use grants to attend that school or program of study. We must hold institutions of higher learning accountable for the quality and outcomes of their degrees and certifications. Higher education is one of the greatest vehicles for socioeconomic opportunity our nation has, and we cannot afford to allow it to become derelict in its duty..............So far we've given colleges a pass...........

Lastly, people who can afford to pay their student loans need to pay their student loans. Having a self-pay system of higher education finance means that prospective students are consumers, and when people pay with their own money, they are savvy. They demand that colleges charge a reasonable price. They demand quality. When someone else is paying, they become less interested in the details, and there is less pressure on institutions of higher learning to perform. Discipline from the market can keep value high and prices low, ensuring that public dollars spent on education will go the furthest possible...........To Read More...