Wednesday, August 19, 2009

Bill White on college costs

Houston's mayor, Bill White, is running for US Senate. I follow his Facebook feed, and yesterday they (he?) dumped this on us:
For candidates who are: instead of talking about each other, tell Texans how we can cut school dropout rates and make college education more accessible, and how to pay for it.
I'll wager that White's plan involves pumping more tax dollars into the educational system and cranking out more student loan money. That seems to be the forever solution. But the fact is this "solution" is what has caused higher education expenses to soar. The cost to attend our colleges and universities has increased at a far higher clip than inflation, particularly over the past 20 years. By pumping more tax dollars and providing an endless stream of guaranteed student loan money, what incentives do colleges and universities have to reign in costs? Feeding more money into the system in order to make it "affordable" is like feeding money and easy credit into the housing market, and we all know what happened there once the easy money dried up. Bloated prices collapsed.

Starve the higher education beast and college will become affordable again for the masses. It's that simple. And quit saddling 23-year-old kids with $100k in debt for a lousy B.S. degree.

4 comments:

Anonymous said...

There should be an economic valuation of the degree vs what the public contributes. A PhD in basket weaving can not repay a $100,000 in public support (direct and indirect support). There are some skill sets needed but too many who get a degree never use the degree for much...total waste of the person's time and drives up the cost for everyone else.

Michael Ryan said...

I think you could get lower dropout rates by raising admission standards. You know, limit it to kids who actually pay attention in school? But then Johnny might his feelings hurt.

What we need is fewer English degrees, and more trained auto mechanics, or plumbers, or most any manual skill requiring extensive training.

Anonymous said...

rein in costs

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