A presidential election approaches and the giveaway bidding keeps
rising. The two big ticket bids are “free
college education” and “forgiveness of student loan debt.” These two issues are symptoms of a problem. They are not the problem. Too often in our culture we focus on symptoms
and politicians pander with supposed solutions.
That is why many problems are never solved. The real problem is a higher education system that
is far too costly and ineffective in delivering quality outcomes efficiently.
Students and their parents sense that something is out of
joint. Increasingly they are
questioning the value proposition of the four-year college. (Actually, only 39% of students graduate in 4
years and only about 60% by year six.)
The cost is too high. The rigor
of the experience is questionable as everything outside of academics seems a
priority on campus with socialization atop the list. The enhanced economic promise associated
with the degree are diminishing. And the
debt burden incurred can be stifling.
Higher education costs have skyrocketed. The quality of education has not improved in
any way proportionate to the rise in cost.
Government programs to make higher education affordable have in fact had
the opposite effect – fueling rising costs.
Much of the burden of that cost is placed on the shoulders of those ill
prepared to complete college and ill prepared to pay back the debt burden.