The U.S. Education System: Don’t Make It Worse
As problematic as American higher education is, it works much better than either our elementary and secondary system, or most other countries’ postsecondary systems. American universities dominate world rankings; the United States is the top destination for students pursuing studies outside of their home countries; and we have by far the greatest number of top scholars, including Nobel Prize winners. Why? Because as wasteful and distorting as aid to students is, it is far better to attach money to students and give institutions autonomy to govern and shape themselves than to have the government operate the schools and fund them directly. We want a system that can supply varied types of education and that allows students and schools to respond quickly to changing needs in the workforce. Freedom is much better suited to those goals than top-down control.
Of course, American higher education is far from perfect in that regard. Public colleges and universities receive heavy direct subsidies from state and local governments that render them significantly insulated from the pressures of student demands. And private, nonprofit schools often have big endowments or other sources of funds accumulated through tax-favored donations. For-profit colleges and, to a lesser extent, community colleges have often been the most responsive to changing workforce demands.
What that tells us is, first, Congress should not enact legislation that would offer federal funding to states in exchange for greatly increased subsidies to public colleges and lower or zero tuition. Although such legislation would reduce sticker prices and debt, it would render higher education even less efficient than the current system. And, of course, it would come with a hefty taxpayer price tag.
Second, Congress should cease the outsized assault we have seen on for-profit institutions over the last several years. Students who attend for-profit schools do tend to have relatively high loan default levels, and they do not earn as much as graduates of four-year public and private, nonprofit schools. But for-profits work with the students with the greatest challenges — older, poorer, more likely to have families and full-time jobs — even compared with community colleges. Moreover, for-profits tend to be relatively quick to expand or create new programs when demand arises and to scale down or end programs when demand subsides. In other words, they are best at responding to changing market demands. Nevertheless, like all sectors of higher education, they have inflated prices, big noncompletion problems, and too much debt default — due, in large part, to the artificial incentives created by student aid.
Cato Handbook for Policymakers: 48. Higher Education
As problematic as American higher education is, it works much better than either our elementary and secondary system, or most other countries’ postsecondary systems. American universities dominate world rankings; the United States is the top destination for students pursuing studies outside of their home countries; and we have by far the greatest number of top scholars, including Nobel Prize winners. Why? Because as wasteful and distorting as aid to students is, it is far better to attach money to students and give institutions autonomy to govern and shape themselves than to have the government operate the schools and fund them directly. We want a system that can supply varied types of education and that allows students and schools to respond quickly to changing needs in the workforce. Freedom is much better suited to those goals than top-down control.
Of course, American higher education is far from perfect in that regard. Public colleges and universities receive heavy direct subsidies from state and local governments that render them significantly insulated from the pressures of student demands. And private, nonprofit schools often have big endowments or other sources of funds accumulated through tax-favored donations. For-profit colleges and, to a lesser extent, community colleges have often been the most responsive to changing workforce demands.
What that tells us is, first, Congress should not enact legislation that would offer federal funding to states in exchange for greatly increased subsidies to public colleges and lower or zero tuition. Although such legislation would reduce sticker prices and debt, it would render higher education even less efficient than the current system. And, of course, it would come with a hefty taxpayer price tag.
Second, Congress should cease the outsized assault we have seen on for-profit institutions over the last several years. Students who attend for-profit schools do tend to have relatively high loan default levels, and they do not earn as much as graduates of four-year public and private, nonprofit schools. But for-profits work with the students with the greatest challenges — older, poorer, more likely to have families and full-time jobs — even compared with community colleges. Moreover, for-profits tend to be relatively quick to expand or create new programs when demand arises and to scale down or end programs when demand subsides. In other words, they are best at responding to changing market demands. Nevertheless, like all sectors of higher education, they have inflated prices, big noncompletion problems, and too much debt default — due, in large part, to the artificial incentives created by student aid.
Cato Handbook for Policymakers: 48. Higher Education
Reasonable headline, that's always nice.
What kind of nonsense?
"Hmm... According to the re-calibrated antimatter spectral analysis, fukk poor people, just fukk 'em."
