If you have children, you’ve probably played the board game “Life.” Players reach a key crossroad early in the game: Choose to go to college, which sets you back a few spaces but ups your odds of winning the game, or choose not to, which puts you ahead briefly but may hurt you in the...
Economic laws are not subject to a vote. They can’t be wished away because you don’t like certain realities they reveal. They don’t bend to accommodate your feelings or the politician’s will. These harsh realities must be kept in mind when anticipating the results of public policy. For instance, there’s no surer way to make...
When Congress passed the Higher Education Act of 1965, colleges and universities were swept into a paradigm shift. The act shifted many funding responsibilities for universities from private endowments or state taxpayers to the federal government. Government loans and scholarship programs materialized. Pell Grants and Stafford Loans were a direct result of the legislation. The...
The PROSPER Act cuts financial assistance for undergraduates, a move that will hurt many, the National Association of Student Financial Aid Administrators said Jan. 24. Backers of the bill, including U.S. Rep. Virginia Foxx, R-5th District, say it simply cuts red tape and makes lending easier. The Promoting Real Opportunity, Success, and Prosperity through Education...
A report from the Cato Institute suggests an alternative method for paying for higher education. As the need for new methods of finance is growing with the rapidly rising costs of higher education, and as student loans are beset with defaulting and graduates dealing with the uncertainty over being able to make fixed loan payments, the report argues, human capital contracts should be an attractive alternative.
