Outside of the 50 or so top schools, American higher education is troubled. This is especially true as tuition soars and students receive diplomas of questionable value. In 2014, for example, the average bill at a private college for tuition plus room and board was $42,419; at a public school the tab was $18,943. And the long-term trend is for even larger increases. Meanwhile, in 2013 students typically graduated with $28,400 in debt they can scarcely pay back while many have difficulty finding decent jobs thanks to “expertise” in gender studies and similar empty calorie majors.
Fear not, however, Hillary Clinton has a rescue plan. The gist of her solution is a $350 billion ten year infusion of federal funds for both public universities and students struggling to pay off loans (they could only re-finance the loans). About $175 billion would go to states to free students from having to borrow to finance their education. In exchange for the infusion, recipient states would be obligated to boost their higher ed spending and (somehow) slow the rate of tuition increases. Funding would come from capping the value of itemized tax deductions of the wealthy. Tougher rules would be imposed on for-profit institutions while schools that serve low-income and minority students would receive financial assistance. Lastly, there would be greater transparency regarding graduation rates. All and all, open the flood gates for ever more college education, though the value of the degree is increasingly being questioned.
This plan is doomed even if Hillary is elected. It fails to address the meager employment prospects of many of today’s graduates and it is hard to imagine Republicans in Congress voting for a tax-the-rich scheme that so obviously rewards a major Democratic constituency. Hillary is just pandering and ineptly so.
But the good news is that many of the cost problems bedeviling our colleges are reversible if there is sufficient political will.
Let’s start with soaring tuition. This cannot be fixed by handing out yet more Washington subsidies. After all, tuition has climbed as federal funds to college students similarly climbed. A far better solution is to cut tuition cost and this is hardly rocket science; hundreds of profitable corporations regularly slash costs and these lessons can be applied to universities.
Think of students as consumers over-charged for a shoddy degree. Fortunately, such excesses have long been covered by consumer protection laws. Just as the government now regulates telecommunication fees, it should enact legislation requiring schools to disaggregate their services so financially hard-pressed students, like Verizon customers, can buy a barebones “education only” plans. Outside cost accountants can determine the price of this “academic only” option and thus free students from forcibly subsidizing dormitory housing, meal plans, recreational facilities, activity fees (including expensive speaker fees), healthcare, and all of today’s university mandated social engineering (e.g., mandated workshops on the joys of diversity). My guess is that few students want these imposed frills and left to their own, would save thousands per year while the PC infrastructure would go into the dustbin of history.
Then schools should be required to hire an experienced corporate cost cutter (see here) and perhaps pay them a commission for eliminating waste. For example, many schools supply expensive remedial education to their troubled admittees. What about requiring youngsters pay for their previous sloth but now permit outside firms to bid on these services? So, rather than State U tutoring semi-literate John, he will buy his literacy lessons via the Internet from a low-cost private provider (and out-of-pocket payments might even motivate him to learn). Meanwhile, students would no longer be required to buy expensive dead tree textbooks thanks to having all books available as e-books (schools might have to subsidize publisher royalties but think of the money saved by scaling back college bookstores). A once $75 chemistry book could now go for $5. Actually, this is already happening and many books are free. Similarly, the school’s library can be drastically slimmed down by developing networks for costly reference books, specialized research librarians and Google Books.
What about giving students first crack at campus jobs? Surely they can mow lawns or flip burgers. Berea College has long used this no-brainer policy and students pay zero tuition.
